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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: the options strategist who wrote (833)	8/16/1999 4:22:00 PM
From: Ron Lambert	Read Replies (1) \| Respond to of 2317

Right now,(market close today) the OEX 710c/720 call is giving 3/8, that's about a 3% return after commission. I don't expect the OEX to close above 700, and I know with 95% certainty that it will close below 710 on Friday. If I can catch a good intraday push up the 3/8 credit can easily double. If I can capture 3/4 or more, yes I will open up a credit spread this week. A 3/4 credit is about 7% ROI. I've already got ten percent this month and would like to add a little to that if the opportunity arises. Mostly this will be dependent upon the CPI figures tomorrow. It should move the market one way or the other. My hope is it will follow the PPI move last week. Time will tell. If you intend to open a put spread wait for a downward push. If you can watch the market realtime, do so. I wouldn't sell any put closer than a 660 though as the market has a greater chance of hitting anything closer.