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Strategies & Market Trends : The Player's Club -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (5550)	2/9/2000 9:36:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 11513

John, Had I shorted one June 1450 put, I would have placed an order right at the money to sell one June contract at 1449.90 on a sell stop... we would have been filled mid afternoon and we closed today at 1437.00 for about 15 points... we would also keep the earlier short call naked... the market can't go up and down at the very same time.. so, on side is covered and the other side would remain naked..... contracts entered to cover a short option will generally be placed once the option is at the money... options will also be shorted when they're at the money..... GZ