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

To: jjs_ynot who wrote (1001)	10/26/1999 11:13:00 AM
From: KFE	Read Replies (1) \| Respond to of 2317

Dave & All, Received a one day free trial to McMillan's newsletter. If you believe in such analysis ( I do not) here is an interesting play that he is pushing. For the last 21 years the S&P 500 has closed higher 20 times (one break even)on Nov2 then it had closed on the previous Oct 27 close. He is recommending to buy three OEX Nov calls one strike in the money at the close on Oct27. He says to sell one call if the index goes up 12 points, sell another call if it goes up another 12 points, and liquidate any remaining calls at the close on Nov2. I don't know how much of a following he has but it might be interesting to see what happens to the IV on these options. Could create some kind of IV play. Regards, Ken