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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (60848)	3/12/2004 10:45:39 PM
From: RR	Read Replies (2) \| Respond to of 65232

Hi Jill: It was SPTDE, April 1125 calls. Open position yesterday late. Average a bit over 16.00. 40 contracts. Closed half at 19.00 today. On the SPX positions, I treat those as pure trading. Consequently, I don't focus on the ITM vs OTM necessarily because I'm not going to hold the options for awhile like I would the PAAS and PTR option positions I've written about which are June/July and ITM. Yesterday when I had some time to focus on the SPX and I posted on the Porch, the 1125's were around ATM and I focused on them with the high OI. As the SPX dropped, it didn't matter that they went OTM for all I wanted was a quick trade. As a practical matter, for a day trade or an overnight trade, it doesn't mean squat whether it's ITM or OTM, except perhaps for what you can pay for them total. You're going for a bump, the return. So you were right about asking if the SPX calls were closer in, like March. In Dallas for a weekend meeting. Just in from supper. Have not even had time to see how the market ended. Let me know if you have a question, Jill. RR