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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?


To: RocketMan who wrote (301)12/28/1999 8:47:00 PM
From: steve mamus  Read Replies (1) | Respond to of 8096
 
Thats the deal as I understand it.
I have been self taught with all investing...I have discussed option strategies at length with a growing circle of friends here in Orlando and usually speak or e-mail 5-6 friends per day that trade options (outside of the boards).

I have largely broken all of the rules because they don't make sense to me. I sell puts more then 30 days out (gasp), I sell calls more then 30 days out (gasp, gasp), I have a concentrated portfolios (gasp, gasp, gasp), I have never read an annual report (the horror), I wouldn't recognize a financial statement if it hit me in the head never mind read one. I don't diversify, I hate bonds, I intensely dislike most brokers, and I will dump my entire portfolio in a heartbeat for a large macro event. I pay alot of taxes. I have obeyed the prime directive PROTECT CAPITAL. I take big sector bets. It works. Also the worse crime of all - MY BEST SOURCE OF INFORMATION ARE MESSAGE BOARDS like this. Thanks to everyone, the silicon investor boards are GREAT!



To: RocketMan who wrote (301)12/28/1999 9:19:00 PM
From: steve mamus  Respond to of 8096
 
What a deal. Just remember that the stock may be less then 350 when you get it put to you. On the other hand with way out of the money put you try to play it so you don't have to take the stock. In any case, if you get a gift at 350 a share just remember somebody else paid 528 at one point for it and as far as I'm concerned it is a gift, with premium paid to you to boot. If you liked it at 500+ you got to love it at 350-the premium.