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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (48664)	7/3/2001 11:21:18 AM
From: BWAC	Respond to of 70976

Good advice Kirk. But still Everyone needs Option Approval. You might never use it, but its nice to have just in case you do need it. And the lower the level of approval, the less tools you have to use in your time of need. Options. Get the ability to trade them. Use that ability wisely.

To: Kirk © who wrote (48664)	7/3/2001 12:06:55 PM
From: Jerome	Read Replies (2) \| Respond to of 70976

>>"learn to trade options where many have just as good of results at the race track"<< Kirk, I'm surprised to see you make that kind of statement. Its impossible to lose money writing a covered call and to do poorer than the person who does not use covered calls as part of a strategy. Try that at any racetrack. >>>Some of the people here seem to do really well, but you really don't know for sure and they just might have the skills of professional gamblers that make a living gambling.<<< Come on Kirk, What gamble is there in covered calls???? The seller of a covered call is getting exactly what he or she asks for. Covered call writers are not gamblers. Buying a stock and hoping for appreciation in the near term... now that a gamble. >>>I'd advise paper trading for a full cycle or limiting your gambling to a set amount that you can afford to lose.<<< Why in heavens name would you want to paper trade a covered call. Do you watch race horse movies prior to going to the racetrack? I don't mean to come down hard on You Kirk, but you are taking a very simple concept (covered call writing) and trying to make it some some kind of mystery with potential for disastrous consequences. That Option strategy I posted yesterday on AMAT, is one of the best option, plus short term trading strategies I have yet to see. I like it so much I plan to utilize it myself. It has been my experience that investors that don't use options as part of a strategy or as a hedge for positions are scared to death of them. Then you get posters complaining how much money they lost in the past year......when some simple option hedges would have preserved all their stock holdings. Sorry for the rant Kirk....but you are giving options and their use a bad name. Regards, Jerome