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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (67647)	9/13/1999 10:23:00 PM
From: Alias Shrugged	Respond to of 132070

No, this investor makes no "big bets." -g- Legging opportunities have appeared somewhat often in the mania. Let's see, after I've have bought my fourth third of puts on a stock and then the sucker actually comes down so that the last third are a little in the money, then what? Buying a OTM call makes sense as a little insurance (yes, i know its one more security, commision, spread; but, dammit man! I've got a put buying habit to support). Anyway, if the stock continues down, great; if the stock goes back up you can (1) sell the call; (2) set up a spread; or (3) short a straddle (and you probably know even more fun things which could be done.) Today was actually fun, watching INTC, IBM and TXN; may tomorrow bring much more of the same.