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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (14171)1/29/1999 1:36:00 PM
From: Tom Trader  Read Replies (1) of 44573
 
I legged into it

The first part -- the sale of the calls was done when I got the last sell signal; the sale of the puts was when I got the buy signal. Did not want to close out the calls when the buy signal was triggered because the premium was so rich.

I'd lose if the market dropped big time but before that happened when I get a sell signal, I'll sell some more ATM calls naked and buy OTM puts to protect myself.

This approach only makes sense when the VIX is very high and the premiums are too rich to make it worth going long the OEX options
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