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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (10997)	10/15/2002 7:16:17 PM
From: Jeffrey S. Lillie	Read Replies (1) \| Respond to of 30712

Oct 850 spx puts picked up yesterday with index at 838 and another twice as many of those from today at 866. Also had a few more from two days ago with index at 827. A rough calculation shows I need 845 just to break even on the 850's. We closed at 881 and futures only down to 875 (big whup, 6 points). I need another 30 more and soon. That is the brutal part of it. I added a healthy chunk of oct 875's just before close. They will be used to offset the disaster in the 850's. a calc of my breakeven point on the sum of 850;s and 875's is right at 857 which is very reasonable as it is only 24 points down from close. So i hope we can find some more bad news out there in asia/ europe to get a 30 plus downer on spx tomorrow as the clock is ticking very fast. jeff