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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER!
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To: Brett Verinck who wrote (669)2/8/1999 3:21:00 PM
From: jebj  Read Replies (1) of 2045
 
>Hopefully you will be able to keep an account with a broker that can fill your short option requirements and use ABW to your advantage as well. - Brett

This is cut from your reply to Jim ref his post that has the same concerns as I.

I have spent almost a year studing trading, daytrading and options and although not as knowledge as many I feel I am very far ahead of what would be considered "average" in the trading area.

So what am I mnissing here -

They say you can not write naked call because of the "unlimited" risk!

That has to be one of the dumbest statements I have ever heard! Please show me one single stock in the history of the markets that has gone to "unlimited" amounts! Fast moving, yes - runaway, yes - but "unlimited"?

One can purchase an internet stock which may be moving over 100 pts a day on margin but one can not sell a naked call which will move much less in the same given time period? Again, what am I missing here?

If one is going to seriously play short term option plays one needs the ability to use all the tools available to set up protective spreads - to not let an options trader to do so is setting him up to fail, IMO.

How is one suppose to lose more in an option play than an stock play if one goes about it in the same manner - watching the stock and setting up stops?

I must be missing something!

jb
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