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

To: Poet who wrote (6488)	4/15/2000 9:56:00 AM
From: Jill	Respond to of 8096

I think it's best to go to as much cash as we can. I've been reading around SI and I do not think we'll stabilize next week, I think it'll get worse. (There is a chance that institutions will come in after options expiry but I doubt before). There are more margin calls to come and some people are already absolutely ruined. I.E. they have nothing when a few weeks ago they had nearly a million. Someone with 5 million is hoping to come out with 400K. Someone with 1 million is down to 60K. The brokerage firms are raising maintenance overnight on some people. The cc strategy that Tom suggested could get dangerous short-term, as Cosmo replied to me yesterday. I also think it would be wise to buy puts on the NAZ. Puts I sold for 5 would now cost 40 to buy back, in just 2 weeks. Buying puts could conversely give great gains if the correction continues. I just have not done that and would like to look at some strikes with you. Rather than individual stocks. I want to do this on the thread for the benefits of others. I am not bearish long term by the way. I think this is practically tragic--the economy is strong, earnings are blowout and will be this week too but it can't stop the free fall. When we hit the low there will be buying opps but we aren't there yet.