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Strategies & Market Trends : Selling Puts: Have Cash Will Travel -- Ignore unavailable to you. Want to Upgrade?

To: taxman who wrote (1048)	1/26/2000 6:07:00 PM
From: Jumper	Read Replies (2) \| Respond to of 1235

>>limited upside and unlimited downside doesn't make sense<< I was shocked to see so many people using this strategy. I have found that by having both longs and shorts at all times your financial health will improve and you will have more fun :) McMillan talks about how going out of the triple witch that was the 87 crash many people did indeed own those favorite stocks at much lower prices. Much lower prices in fact. I took it to heart that if people were using this strategy and having success....What Lunacy! What Risk! The job is to manage risk and collect a reasonable rate of return. The outlandish bullishness on SI threads ensured I had 300 puts on Dell and I understood the risk (Lying CEO's may have tried to make them expire worthless.) But naked option trading for Joe & Jane Six Pack?