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

To: edamo who wrote (1835)	1/27/2000 11:46:00 PM
From: y2kate	Read Replies (1) \| Respond to of 8096

Edamo, As I've learned only from books and by doing, I'd welcome your thoughts. My jargon could be wrong. I am definitely one lucky beginner. By "rolling up", I mean, for example- I purchased 10 calls of Q at the money- Nov. 160. When the calls went up 10 or so points, I sold and bought back in on any dip, but at the next strike price up. In this way (I think) I was risking only that option premium each time I placed the trade, and making profits all the way up. I also thought, by placing this same amount out each time, if the stock stopped rising, I would only lose a portion of my premium, and not lose all accumulated profits. I did this at least 20 times, making a few hundred thousand on that $50,000.00--I'm sure the fast rise in the stock masked the flaws in this process, but it seemed to work, and it felt like I was locking in profits and minimizing risk. what is a repair strategy, by the way?