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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: gdichaz who wrote (7763)	10/7/1999 6:43:00 PM
From: Jon Koplik	Read Replies (2) \| Respond to of 29987

Funny you should ask, because I just had a conversation with someone regarding the fact that I use no mathematical "things" at all when deciding which strike prices to "do." (I simply have some gut feeling about probabilities of price changes in the underlying stock, as well as whether or not an option premium seems too "high" or "low" for me to want to get involved). Most of what I have been doing lately is selling G* $25 puts naked short when they have been roughly 1 3/4 in price. (This has been my "M.O." while the stock has been between about 25 and 33. What has varied is how many months out this causes the option to be). (I seem to always be "naked putted" up to my own personal "squirm" level every time G* takes one of its "whole move based on nothing" declines -- so, I have never really captured a nice, fat, juicy put premium yet. However, since I have been doing the naked put writing almost continuously for many months, it is surprising how much money it has "pulled in.") I have no problem running the risk of owning a little more G* at (a "net" price of) around 23 1/4. Jon.