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To: Poet who wrote (748)5/25/2000 10:56:00 AM
From: DM  Read Replies (1) | Respond to of 10876
 
Well flipped my QQQ's for 3 points this morning.

Meant to buy Aug puts on COMS and bot July's instead (brain already on 3 day holdiay). Betting that once the spinnoff of PALM occurs people will dump COMS.

Anyone know when the Fed meets in June. Poet said the 17th but that is a Saturday.

DM



To: Poet who wrote (748)5/25/2000 11:55:00 AM
From: hivemind  Respond to of 10876
 
The repositioning is nice when done on the upside as the deltas are in your favor:

bought qqq june 90 put ask 10.25
sold qqq sept 90 put bid 14.00
net +3.75

with QQQ having dropped a bit since then:

qqq june 90 put ask 11.00
qqq sept 90 put bid 14.25
net +3.25

This will work against you if the underlying has a sharp move upward, would be better off short the junes. However I am looking to work my way into a profit position, and time is my friend.

hivemind


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