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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: MJR who wrote (561)1/15/1998 10:50:00 PM
From: Jeffrey Beckman  Read Replies (2) | Respond to of 2241
 
All: I've never traded options, and am just starting to read-up on strategies for puts and calls. For now, I have a few minor questions on practical matters.

1. What time of day does options trading start?
2. Are prices electronically linked to the underlying security, or do lags sometimes exist?
3. While punching in some prospective trades on Ameritrades options system, I get the impression that many long-term puts and calls are very lightly traded. Are these generally "liquid", that is to say, will orders at the bid or ask generally be filled? Are bid/ask values generally the ongoing prices, or is there some discretion, so to speak?

Thanks in advance,

Jeff




To: MJR who wrote (561)1/16/1998 1:55:00 AM
From: Solipsist  Respond to of 2241
 
I'm not an "expert" on options by any means, so take what I say with
a grain or two of salt.

On the whole, I've made far more money on in the money options than on out of the money options. There've been a few times when I hit it big (for me) with the out of the money ones, but I can't do it with any real consistency. That time decay is a killer, especially with near-term options.


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