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Strategies & Market Trends : The OEX... gasp!
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To: The Jedi who wrote (543)2/14/1997 11:02:00 PM
From: Richard J. Byrd   of 658
 
Dear Kiri: My guess is: Yes, but not yet.
There should be some more retrenchment over the next week, putting the OEX down to perhaps 775-780. Then it should go up past the 792 of Thursday and higher. Look for that settling down for a good place to open your position on those March calls.
It may be dangerous to keep holding any Feb calls. There are only 4 trading days left to expiration and the settling down could take that long, meanwhile your time value gets squeezed to zero.
But, But, But, -- I could be wrong.
Dick
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