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To: Lizzie Tudor who wrote (10307)	1/10/2003 9:33:48 AM
From: im a survivor	Read Replies (1) \| Respond to of 13815

<<I consider myself to be a pretty good investor especially in bull markets but I always seem to lose with options.>> Me too....I do much better with writing CC's then trying to buy calls or leaps in this market. The swings up and down make it hard to keep a tight stop and limit losses, and for the most part, the market has been down, so call buying probably lost people more money, then it allowed them to gain...except for those lucky few, that are patient enough and pick the right stocks to buy calls in...certainly, the up's and downs have created big swings in call prices, but you have to be real good to do well with calls in this type market....although, I do remember buying like 10000 contracts for sunw about 1 or 2 years ago at like .05 apiece.....stock went up just a little...calls went to .35 where I sold, then went as high as .90, and eventually went back down to .05 and with sunw where it is now, I am sure those calls would have expired worthless had they been held......Calls and leaps are very risky in this type market...at least stock doesnt expire and you can hold thru the rough times.....I bought aol leaps $30, when stock was at like $65....I had 3 years and figured even if aol gets whacked, I have 3 years, and certainly things will recover by then...needless to say, they expired worthless....I even wanted to sell and salvage what I could when they were still worth something, but my full service broker talked me out of it, saying they loved the company and I had time on my side and she didnt want to see me take a 50% haircut...so I listened and got a 100% haircut instead...needless to say, I havent given her advice much thought the last 3 years....at least with stock, you have time on your side....calls and leaps and you are at the mercy of the market, economy and world events.....