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

To: KFE who wrote (1052)	12/18/1999 12:21:00 AM
From: the options strategist	Read Replies (1) \| Respond to of 2317

Tried a strategy for expiration week (this week)for the first time. Monday I put on a credit put spread, 5 contracts sold 755 - bot 745 for credit of $750 and a credit call spread, 5 contracts sold 770 - bot 780 for credit of $1,125 Since the market was in a tight consolidation mode mon thru thur I did not have to be too uptight. Matter of fact it was a great non-stressful play. Wed I closed out the call spread for a profit of $565 and let the put spread run. Fri I bought back the 755 for 1/16 and let the 745 expire. In all the profit excluding commisions was approximately 1,300. Also, put on a straddle on the oex Mon. bot 755 put bot 765 call for a debit of $9.00 These were closed today (fri) 755 expired worthless sold 765 for profit of 3.50 less commisions These plays were an experiment for options week and how I can take advantage of the volatility. However, this week was not as volatile as expected. But I like the "boxed in" credit spreads (since the premiums were fairly good for these). jj