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To: SJS who wrote (4980)	1/23/2000 12:22:00 PM
From: cthruu	Read Replies (1) \| Respond to of 24042

(90% of people who buy options, over time, lose money.0 Where did you get that figure? Regards: GP

To: SJS who wrote (4980)	1/23/2000 12:29:00 PM
From: Tecinvestor	Read Replies (1) \| Respond to of 24042

SJS, we agree to disagree. However, do not assume that I am not looking at the big picture, nor should you presume that I'm not doing better than most of the small percentage of traders that are making money. If I had the time to spend the better part of my day in front of a screen, perhaps I'd feel differently. Tec.

To: SJS who wrote (4980)	1/23/2000 1:34:00 PM
From: Mark Peterson CPA	Read Replies (6) \| Respond to of 24042

Steve, have enjoyed your posts. Would like to take virtual license by adding a few corrolaries to your overview: So...Here are some generally established rules (50,000 foot view): 1) Don't write CC's on mo-mo tech stocks in an up market. 1.1 Don't sell CC's at low volatilities on tech stocks in an up market. 2) Generally, writing options is more profitable than buying them. 2.1 Selling options at high volatilities is more profitable than selling options at low volatilities. 2.2 Selling options at high volatilities is more profitable than buying options at high volatilities. 2.3 Buying options at low volatilities is more profitable than buying options at high volatilities. 2.4 Buying options at low volatilities is more profitable than selling options at low volatilities. 3) 90% of people who buy options, over time, lose money. 3.1 90% of people who buy options at high volatilities, over time, lose money. 3.2 90% of people who sell options at high volatilities, over time, make money. 4) Use CC's to partially hedge long position, not fully hedge them. 4.1 Rule 1: Never lose money on an investment 4.2 Rule 2: Never break the first rule Remember: 1) Writing PUTS is BULLISH. Buying calls is BULLISH. 1.1 Selling puts at high volatilities is smart. 1.2 Selling puts at low volatilities is dumb. 1.3 Buying calls at low volatilities is smart. 1.4 Buying calls at high volatilities is dumb. 2) Writing CALLS is bearish. Buying puts is BEARISH. 2.1 Selling calls at high volatilities is smart. 2.2 Selling calls at low volatilities is dumb. 2.3 Buying puts at low volatilities is smart. 2.4 Buying puts at high volatilities is dumb. Mark Peterson