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

To: robwin who wrote (9992)	3/12/2001 10:04:22 AM
From: bonnuss_in_austin	Respond to of 10876

Hi, robwin! Re put jitters ... Ha. Me, too. I'm relatively new to the put scene, and attribute stress-over-and-above 'normal' levels to the fact that I'm not as 'emotionally experienced' playing the dark side as the other. I'm much more accustomed to buying LEAPs and letting them ride (although I sold all of them with the LTB&H stocks over the past 8-12 months). It's that hangover effect of the LTB&H brainwashing that for me, encompassed my whole life, actually .. beginning with my Dad and his generation accumulating stock of corp they worked for over entire lifetime (in Dad's case, CHV). Sigh. My biggest regret this a.m. is not holding puts on CIEN and JNPR ... I sold my QQQRN June 40 puts this morning leaving, depending on what minute I look at the price now, a dime on the table, although it's all over the place in about a 20 cent range, to lock in what for me will be four months rent going forward <g> ... I'm not sure my goal orientation works nearly as well as an investor/trader as it has to serve as a motivator being self-employed. I'd like to make a full year's living expenses playing options but with that, need to be very very careful not to get greedy making $ on puts ... What a way to live, eh? haha Have a good day, rob et al ... 'b-i-a' ###

To: robwin who wrote (9992)	3/12/2001 10:51:49 AM
From: Poet	Read Replies (2) \| Respond to of 10876

Hi there Rob, I know exactly what you mean about letting go of puts too early. I've scalped profits fromQQQ, JNPR, GE and IBM lately. I guess the way to look at it is that the fear of having any position in this market for more than a few days, because of the rising volatility, is rather dangerous. We're getting close to support and the Fed meets on March 20th (ie. the possibility of a rate cut looms), so I think it's wise to take profits on shorts here, or soon. I sold the last of my IBM July puts this morning and have initiated a small position in JNPR Mar 50 naked puts. This is a gamble (as any long position is now) but the fact that the volatility is very high (meaning the premiums are inflated) and that time decay accelerates over the last week before expiry, I'm willing to try and scalp a little money here. This not a recommendation, just a public admission of a gamble.