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To: shoreco who wrote (284466)	4/16/2004 6:06:14 PM
From: patron_anejo_por_favor	Respond to of 436258

<<Naked leap calls were "pure profit" and with the premiums they fetch at worst they turned to "covered calls" and you still kept the premium... This is the fastest way to get "rich" in the market but if you can't afford to convert them to "covered" you shouldn't be playing the game...>> Yes, that was my point...and yes, I'd keep the position small in case you had to convert it to a covered call <shudder>

To: shoreco who wrote (284466)	4/16/2004 6:10:37 PM
From: patron_anejo_por_favor	Respond to of 436258

<<Go to a Black Jack table w/out a betting limit and you can't lose...>> Well, yes you CAN lose unless you have an unlimited bankroll (and no one does) AND you count cards and are playing at a positive expected value. Even the best counters/shuffle trackers go through some pretty severe negative swings at times. If you don't adjust bet size correctly to fit yer bank you WILL get wiped out.