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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: David Lind who wrote (2034)2/3/2001 4:19:09 PM
From: m thompson  Read Replies (1) | Respond to of 2241
 
If i am naked 5 contracts of puts for feb., and want to cushion against further declines should i sell short the underlying stock? and my puts, will they settle the obligation to "buy to close" when the stock is put to me?i am new to this thread and hope someone could answer this. i have 3 feb 60 jdsu puts and 2 feb 65 puts naked(but with sufficient cash to buy if exercised).obviously if jdsu rallies above these my puts will not be exercised,so i'd need to buy shares to cover.
thanks for any input! matt



To: David Lind who wrote (2034)2/3/2001 5:23:53 PM
From: ig  Respond to of 2241
 
Thanks for your reply, David.

And for the warning! I have no interest whatsoever in writing options. I am interested only in maximizing the leverage of buying simple puts and calls.

ig


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