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

To: Jill who wrote (5283)	3/20/2000 2:25:00 PM
From: SecularBull	Read Replies (2) \| Respond to of 8096

Loading up on SDLI common and also some NTAP Sept $100s. NTAP splits 2:1 at the end of the week. LoF

To: Jill who wrote (5283)	3/20/2000 5:18:00 PM
From: Paul Merriwether	Respond to of 8096

Bought 40 UQKDK(April 55 calls) and sold 20 UQKPL puts @ 7 5/8.

To: Jill who wrote (5283)	3/20/2000 6:38:00 PM
From: the options strategist	Read Replies (1) \| Respond to of 8096

To the person (and anyone else lurking) with the $10,000 account and questions about how to write puts. As I was briefly glancing the posts (having been away for a few days) I saw a post from one who had a $10,000 acct and wanted to know about writing puts. But I lost the post and name. Anyway,there may be others wanting same info. When you have a small acct. you have to trade small. Now how's that for AWESOMELY perspective statement :) But I have to say it cuz traders want to trade like the big accts and you can't do it. Having said that you can do the same on a smaller basis until you build your acct. o.k preaching over. One of my students had a $6,000 acct to start. She wanted to write puts for income. She wanted only to go naked :) I had her to start with a stock (EGRP) that was around $26 at the time, in Feb. Etrade will generally approve one to write puts as long as you have enough in the acct for margin. She wrote an April $25 put naked for $2.25 prem. She only had 3 contracts. Remember she is learning with a small acct. And she only needed $3,675 in the acct. (with 40% margin) She did not mind owning EGRP at $22.75. Matter she wanted to own it for cover calling. The prem is currently around $1.25 and she is holding realizing the market circumstances and that she could have bought back earlier today and made app. $400. She chose to to hold. If EGRP continues as it has, she will probably make a few bucks from this trade, if not she will have the stock to cc. The point I'm trying to make is you can write puts with a small acct but you just have to do it in a small way and cut losses close so you can trade again. Doing this enough and you will be able to trade like the large acct cuz you will have a large account. But patience and discipline are two key keys. AND you can always trade a bull put spread that will not eat up a lot of margin. jj.