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To: HandsOn who wrote (8794)	7/14/1999 6:02:00 PM
From: Minos	Read Replies (1) \| Respond to of 118717

Options I never could understand why people go to Vegas or riverboat casinos when there are options. <g> Anyway, an excellent book that helped me learn (a little) was "Getting Started In Options" by Michael C. Thomsett. Very straightforward and Very readable. The Options Clearing Corporation also produces a video called the Options Toolbox, or something like that, and the CBOE has an excellent website (when their server isn't down) that provides tons of educational information. Try quote.cboe.com Here's another website that might help. optionsource.com Speaking of Options...MSFT looks like it is about to breakout. With a tame CPI number, I might pick up some Aug Calls. Anybody else considering it? Good Luck, Minos

To: HandsOn who wrote (8794)	7/14/1999 7:22:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 118717

HandsOn, options is very much like gambling, you can get obsessed and go overboard, with portfolio fluctuations by factors of 2-4 within months. There are safer and conservative options plays for which you need a highly qualified account. Generally trading is rather illiquid and commissions are pretty high - so when you want to back out of a losing or ill-advised position, commissions and spread can hit for about an extra $200. It is also rather time-consuming to execute - look up quotes, follow quotes, etc. It also seems rather tempting during times like these when people can cash in big on bets made months earlier - however the market doesn't always go up nor does it go the way you'd like it, when you'd like it. To win at options, you have to be right: 1. On the market direction and timing 2 On the sector direction and timing 3 On the stock direction, timing, and magnitude. OR just lucky in these ways. So its basically a lottery game. maybe its easier just to buy internet IPOs! But one strategy is to segment your money, 90% in absolutely safe 6% treasuries, 10% for highly improbable/highly possible profitable option bets. Most lose, but a few big ones hit. This (and other strategies) is described in Macmillan's option book. Greg

To: HandsOn who wrote (8794)	7/15/1999 12:49:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

I agree with everything that has been said here about options. I started an options account with $2K, separate from my equities. The record high was $12K and the low was $550. This is not for your grocery money (current balance around $7K).

To: HandsOn who wrote (8794)	7/15/1999 8:11:00 AM
From: B Tate	Read Replies (1) \| Respond to of 118717

Umm, I've never read much on options so can't be off much help with literature. I just paper traded them for about 6 months until I felt comfortable. I only use options to play short term TA moves without laying out the full price of the underlying stock. The one exception here is T Jan. 2000 calls. Since I'm typically out of sync with the market (by 12 hours) I use in-the-money positions with at least two months to expiration. Since my timing is known to be generally early this gives me time to recover ;-). I don't fool with options calculators or other involved methods of evaluation. There is a fairly good tutorial on the CBOE web site, I think. Good Luck