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Pastimes : Play It On Paper- Clappy's Newbie Option Thread -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (1)	7/21/2000 3:54:09 PM
From: Clappy	Respond to of 176

I'm going to wait a few days before I spend the remaining $5050. I'm looking for prospects in the meantime. If you have any suggestions, please post them. Again, I'm thinking like a very-short-term bear right now. See any less than strong companies with overinflated valuations? Any shiny pebbles? Post them please. -Clappy

To: Clappy who wrote (1)	7/21/2000 3:56:50 PM
From: Dealer	Read Replies (1) \| Respond to of 176

Hiya Clappy! Congratulations on ya site....this ought to be fun and maybe we can learn something and really buy that island and live happy ever after. I'll play with you! My move? I Sold my calls on RNWK yesterday for a 5% gain as of today. Sold strike price 50 calls for 2 1/2 (the stock was at 53-54 when I sold) So I will resale the calls next week. Actually I will probably play with only 1/2 my money next week and keep 1/2 for a August drop and buy some options....... Hey Clappy! You ought to serve cookies and drinks maybe like in the afternoon.

To: Clappy who wrote (1)	7/21/2000 4:33:01 PM
From: cowgirl-ona-1eyed-horse	Read Replies (1) \| Respond to of 176

Hi Clappy, I'm here to learn with ya. Right now I'm just gonna watch :o) I'll jump in with my big toe later! You know, there are risks even with paper trades- beware of paper cuts! cowgirl

To: Clappy who wrote (1)	7/21/2000 4:50:20 PM
From: elpolvo	Read Replies (1) \| Respond to of 176

is there a prize for post numbers ending wif a zero?? -polvie

To: Clappy who wrote (1)	7/21/2000 5:53:09 PM
From: David Cecil	Read Replies (2) \| Respond to of 176

Hi Clappy, I have been lurking the porch for quite some time. I share your sentiment of being a short term bear exactly. So I started buying puts. I was thinking as PMCS and SEBL for a couple of days and ended buying EXDS AUG 55 put (DUBTK) yesterday at 3 3/4. SEBL would have been a better choice I guess. EXDS had a nice run before earnings and yesterday after earnings. The recent run was from around 36 to 59. If it breaks 55, I think it will go further down. After hours it is trading around 55. SEBL/PMCS had a nice run too. They are possible candidates. I agree with your thoughts on JDSU. I am also considering buying puts on that. What do you think about buying options for ELON? From March to May, I lost a LOT in options, especially calls. My mistake was not selling it when I should have. Also one major mistake was I went for really short term options. Short term options have the potential for maximum return, also the maximum potential for expiring worthless. I learnt it the hard way. Really hard. I have made up only 25% of my losses so far in the last month. Hope I make up the remaining losses soon. Glad to be part of this fantasy. Go for it. David

To: Clappy who wrote (1)	7/24/2000 4:36:16 PM
From: Clappy	Read Replies (3) \| Respond to of 176

Play It On Paper: Day 1 Trading Results Report Here was my first trade that I posted this past Friday: I'm going to buy the Aug 160's Puts for $11. Ticker JUDTL. I'll buy 2 contracts for a total of $2200. In addition I will buy the Aug 120's Puts for 1 3/8. Ticker JUYTD. I'll buy 20 contracts for a total of $2,750. (See the post that I'm replying to to see the original message.) Here are the numbers that are listed for these options today: Ticker- JUDTL August 160s Puts : Last 16 3/4 Bid 17 1/4 Ask 18 Ticker- JUYTD August 120s Puts : Last 2 9/16 Bid 2 3/16 Ask 2 9/16 Value of JUDTL if I had sold today: 200 x 17 1/4 = $3,450 Value of JUYTD if I had sold today: 2000 x 2 9/16 = $5,125 Total = $8,575 My initial investment was $4,950. Today's potential profit was $3,625 My potential return on investment was 73.3% in one day. ...sorta makes me wish it wasn't only on paper... Probably if I had been trading this live, I would have been tempted to sell the Aug 120's and took my profit. At least 10 of the 20 contracts, anyway. However, because this is just paper money I believe I will let it ride. Tonight I want to look at some charts and decide what I will do. This was an exciting first day as a wannabe options trader. I think I'm going to like this. Is it always this easy to make money? :^) A guy can dream, can't he? -Clappy