To: Wyätt Gwyön who wrote (49851 ) 11/14/1999 12:00:00 PM From: Jill Read Replies (1) | Respond to
You know, MM, I appreciate your going into that but I do understand the practical use of options, and that wasnot quite what I meant by my question. Again, thanx for taking the time but my point was, I understand options by trading them, according to exactly some of the situations detailed in your post. I just am not interested in plotting graphs/curves, and even if selling puts is theoretically the same in its curve as buying stock/selling calls, they are not the same in practice. I'm probably never going to read McMillan even though many people recommended him for the last year. A glance & I found it too technical. I read Harrison Roth's LEAPS and liked it well enough. But nothing has taught me as much as trading options--and when selling puts, I picked the recent trading range and sold beneath that if I was selling a month out; in buying calls it has depended on what the perception of the stock was at the time. Recently I bought May 90s on GMST when it was in the 80s. I went a little bit OTM but not much. QCOM has seemed a different story this week, and going far OTM has shockingly seen calls popping and going ITM the same day or a few days later. A rare experience.
