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

To: KFE who wrote (910)	9/18/1999 3:37:00 PM
From: OX	Read Replies (2) \| Respond to of 2317

Hi Ken, I agree about negative gamma and covered calls (altho I like CCs). But just as a comment, I see the type of OTM box spreads you and others do on this board as being 'efficient' only in sideways moving mkts as well.

To: KFE who wrote (910)	9/18/1999 8:03:00 PM
From: taxman	Read Replies (1) \| Respond to of 2317

"I don't think that covered call writing is a long term winner." i agree with you. a long time cboe trader told me to "play the wings"--buy the volatility, don't sell it. as a result since 1995 i have been buying puts and calls. neverthless after exercising my in the money calls, i sometimes fall into the trap of hedging by selling a covered call rather than buying the put. regards