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

To: jjs_ynot who wrote (378)	5/16/2000 11:19:00 PM
From: Mark Z	Read Replies (2) \| Respond to of 10876

What I did: Sold 5 points ITM each way (780 calls, 790 puts, OEX was around 785) for a total of 25, bought back for a total of 23.5 about 20 minutes after the Fed announcement. What the strategy says to do & I should have done is to have waited a full hour and I could have picked up another 1.25 pts (bought back for 22.25). I mention this only because I believe the strategy is sound & worth knowing/playing with when significant events are coming and you know the market will move on them. My trading prowess & patience is another matter altogether <g>. I got faked out by the speed/magnitude of the downdraft and ended up letting myself get whipsawed on a couple of other trades.