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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (26493)	6/29/1999 12:29:00 PM
From: Nemer	Read Replies (1) \| Respond to of 44573

Right now, I'm sure thinking about taking the bait the pits are offering me ... the last 45 minutes they've bumped 1346.50 four times, close to that 1346 I've been wanting .... but after rethinking (easier whilst rocking) .. the downside risk exceeds the upside profit ----- for me that is. cause my immediate upside taget is only 1349 .. So, I'll whittle a little more .... Aren't Strangles used primarily for options? Chip, I don't know about primarily, but that is where I used them for many a year. And the method you outlined is the correct method of usage... or so I was taught in the long ago and far away. The past several times I hit at the SPX and the OEX at CBOE with strangles .... the pit boys put the strangle on me ... premmie dropped, even in the correct direction and took all the fun out of the situation for me. The main reason I'm determined (not really really determined but still trying) to stepin on the emini is the complete lack of market entry when the fast market conditions hit.... and there is no premmie, well, maybe a quarter vig, but I can see it working in theory......