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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (26345)	3/3/1998 5:58:00 PM
From: Knighty Tin	Respond to of 132070

Barry, On up days, I would buy Leap puts on some of the bigger names such as Micron, IBM, Texas Instruments, Intel, Merrill Lynch, Citicorp, Mirage and Gateway. However, in general, I recommend Leaps more often than I buy them myself. I prefer to buy 4-6 month puts for their cheaper price and wilder elasticity. However, most folks don't have my history of the 90/10 program and the thirds entries and exits, and they get awfully discouraged after a few bad expirations. The Leaps tend to cut down on the expirations and there is still some value there even if the stock goes against you for awhile. So, for most folks, the much higher premiums are worth the cost, but not for me. Just the opposite when I sell options. The further out, the better. I like taking in cash up front. MB