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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: CommanderCricket who wrote (141089)	10/15/2010 12:30:40 PM
From: Bearcatbob	Read Replies (1) \| Respond to of 206184

Amen Commander - it takes work. If I was still employed I would be fired. I live and breath this stuff - but the weekend is coming and it is soon Bearcat football time. I fully recommend beginners do very conservative plays and not certainly not lever up. That said - I one is in the market - one is accepting risk - and I think unleveraged Covered Calls and Cash Secured Puts is less risky than playing the market. Bob

To: CommanderCricket who wrote (141089)	10/15/2010 11:49:39 PM
From: energyplay	Read Replies (2) \| Respond to of 206184

Selling options - When things go bad, you have to not only cut your losses, you need to be prepared for the blow up that occurs about every 2-3 years, where YOUR stocks drop 30%, and all your puts are exercised. Can you then hold those stocks for the 4-8 months they need to recover in price ? Or will you still need the roughly 2% a month you were making - where will that money come from over the 4 months ? Are you going to sell calls as the stock rebounds ? That can be tricky... >>>> Also, note that (selling options and trading) tends to become at least a part time job - much like work - easy office work, but still work. <<<<