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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 (77)	7/26/2000 11:09:40 AM
From: Perry Ganz	Read Replies (2) \| Respond to of 176

Clap On I saw your trade plans that you posted earlier today and thought it looked really promising. Going to fill that gap to $60 Then they took $10 off the top in premarket so I did not do it. Got my hands full with JDSU today anyway. Perry P.S. if you really get into trading options certain sacrifices must be made.....like work

To: Clappy who wrote (77)	7/27/2000 8:33:45 AM
From: Clappy	Read Replies (2) \| Respond to of 176

Trade First for some accounting... Prior to yesterday, the cash in my fictitious account was $9,175. Then Yesterday I bout RMBS puts for a total of $6,600. This leaves me with a balance of $2,575 to play with. I'm going to put this money towards STLW calls. At the open today I'm buying The STLW AUG 70's (Ticker: SZQHN). Right now LAST:15/16 BID:9/16 ASK:1 1/16 I'm hoping to get the LAST price. However, I would (realistically) probably pay the ASK price seeing how beaten up it's been the past two days. (I'm expecting buyers to be jumping in.) If I get the ASK price, I'm figuring to buy 24 contacts for a total price of $2550 leaving me with only $25 in my account. Hopefully I will get to see the actual Call prices shortly after the open... I plan on making this a day trade. Probably will sell this position on any pop in price. -Clappy

To: Clappy who wrote (77)	7/27/2000 6:10:51 PM
From: Clappy	Read Replies (2) \| Respond to of 176

TRADE I sold the 9 RMBS 60s Puts (Ticker:BYQTL) Contracts for 4 1/2 for a total of $4,050. My original investment into these contracts was yesterday for $2,362.50. The profit on this trade was $1,687.50 Now for some more accounting... I started with an account balance of $10,000 on last Friday. I now hold the following contracts: RMBS AUG 50s Puts - 26 contracts for an estimated value of $3,412.50 Ticker: BYQTJ RMBS AUG 75s Puts - 2 contracts for an estimated value of $2,400. Ticker: BYQTO JNPR Aug 160s Puts - 2 contracts for an estimated value of $4,025. Ticker JUDTL. Cash $4,050 (Today's proceeds) + $2,575 (existing cash) = $6,625. Total Account Value = $16,465.50 Total estimated profit = $6,465.50 or 64.6% in less than 1 week. I think I like this game. I sure wish it wasn't only on paper... -Clappy