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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (46754)	10/31/1999 11:05:00 PM
From: LLCF	Read Replies (1) \| Respond to of 152472

Uncle Frank, do to your stature on this and the Gorilla thread, I feel it necessary to drag this out one more post. <David, you list your profession as trader/investor, and cite 20 years of investing experience, but a few short hours ago you admitted you weren't aware that Level 2 options privileges were available within sheltered accounts. I'm guessing options strategy isn't your area of expertise, > I've had my 'sheltered account' for a like period of time, and level two was never allowed in it... never thought much about it, just assumed it wasn't allowed in anyones. As some have mentioned it is not allowed at many institutions. I trade options professionally and don't have much time to do so PA, although I do hold options long and short PA [personal account] on occasion, and thanks to a friend of mine, and the great posts on this and the Gorilla thread, hold LEAPS as well as stock in Q. <because I can't figure out what your point is> Well, my basic point is that this statement: <Most people seem to think that the greatest thing that can happen when they write a Call is for the stock to sit there and not move until expiration. WRONG! WRONG! WRONG! The best thing that can happen is for the stock to Skyrocket, why?> From this post: Message 11762745 is incorrect. My abusive reply comes from being perhaps 'too close' to the subject. Being an options dealer I suffer those would be experts like Voltaire poorly. For that I am sorry... I could have certainly been less agressive. If you read his above post I think you'll find an authoritative tone that I can assure you he has no business taking in this [derivatives] realm...to say nothing of his reply's to me. FWIW to you and all. <To my way of thinking, too many who employ options to gain leverage get hung up on the instrument itself and forget that its value is derived from the underlying equity. > Yes well said.. and is why options are often 'given away' by those following single strategies. I offer my post again as wothwhile reading in playing options around times of potentially 'non-continuous markets' and why option sellers perhaps shouldn't be lulled to sleep and give away upside just because they usually make money 'buywriting'... your house 'usually' doesn't burn down either: Message 11763186 <The main purpose of this thread is to discuss the fundamentals and prospects of Qualcomm > Good enough for me... no more derivatives... and I am deeply sorry for 'glocking up' the thread, although I feel I had important things to say, things are getting bad enough here at SI without fights. <DAK, I've been reading the exchange of posts between you and Voltaire with amusement> See, you got a chuckle. <G> Back to lurking. Good hunting DAK