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Politics : Idea Of The Day
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To: Michael Rich who wrote (24180)3/10/1999 11:29:00 AM
From: Judy   of 50167
 
Mikey,

You're a good student ... here's a couple of other comments, my dear.

Straddle is to be created not necessarily at strike closest to "current price" but at strike closest to what one estimates as the pivot point.

With the volatility in cmgi, one could leg into the straddle and collect about another 10 points more, making downside risk 140ish if shares are assigned at the 190p. 140 was the previous pivot point for breakout and most likely could be retested when cmgi comes under pressure for whatever reason.

Straddle could also be legged into using the April series, for those who want a bit of cushion to deal with the extremes that are possible for cmgi. Plus, I am not keen about the LCOS monkeywrench messing with the natural momentum of the trade.
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