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Politics : Idea Of The Day

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To: the options strategist who wrote (23014)	1/28/1999 2:58:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

No I don't buy individual internet stocks I bought the calls,at the lows after a two days build up as stocks came nearly 100 $ higher on Yahoo intraday I sold DOT calls naked, now I have BRCM CMGI YAHOO AMZN, each DOT contract is 60,000 $, if market reaches to 600 level I will start losing on DOT, however my Yahoo calls will be worth 150$ on expiry not bad for 50 calls, on the other hand these naked calls on DOT has given me a play and provided me with some shock adjustment, \|all my premiums are out if even internets become internuts.. I am playing the upside and the downside but with pracitcally my outlay is out of risk.. I will below 320 on Yhaoo try to get out of 300 longs and let the DOT 600 run naked..by the way I have sold DOT Febs 600 and my long cals are Febs and March on individual stock.. this is a trade based on the fact that market pays due to voltility highest premiums when stocks open crazily.. Like wise the best time to buy calls is when we have severe dips the premium as result of put activity disappear on the long side.. I hope I am able to clear my strategy, please do not hesitate to call ...

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