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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: wiley murray who wrote (3641)	4/3/1998 8:36:00 AM
From: TFF	Read Replies (2) \| Respond to of 12617

Wiley:lost my shirt. I would not define the option market as liquid. I learned the hard way.

To: wiley murray who wrote (3641)	4/3/1998 9:13:00 AM
From: Jay Lyons	Respond to of 12617

Wiley, Go thru the Market Gems thread. You'll learn a lot from Jenna and Options Jerry. Be careful though, or you'll never have as much money as Jeff Cooper! Jay

To: wiley murray who wrote (3641)	4/4/1998 7:32:00 AM
From: steve goldman	Read Replies (2) \| Respond to of 12617

With the recent volatility and action, I haven't had time to read if someone responded, but I would start by cautioning against day trading options. Risky, dangerous, illiquid, large spreads, etc. With that "hedge" said, I do do it and often do very well. Forget out of the money options. The stock could move 2 bucks and your out of the money calls will move 1. One doesnt sound bad but most stocks don't move 2. If thes stock moves 5/8, your call moves 1/4, not much room for error. Play the stock if you have the money. BUT, there are times that I will play options for a leveraged position, especially right at end of quarter, where there is no time premium left in stock. ie... On the Friday where options are expiriing, lets say SEG was trading at 26 1/4 x 5/16. I would guess that on that Friday, the Apr. 25 would be offered for 1 3/8, bid 1/4 or 3/16. So here, I am only overpay/underreceiving a 1/16. But I am only laying out 1 3/8 so I can now buy far more than just a few thousand shares., etc. But there are risks associated with it as well. YOu have all, INCLUDING THE DOWNSIDE, incidence of ownership. Generally speakings, buy calls or puts is a fools' game. Writing calls/puts is how true money is made. Regards, Steve@yamner.com

To: wiley murray who wrote (3641)	4/4/1998 11:45:00 AM
From: funk	Read Replies (1) \| Respond to of 12617

Funny thing about Daytrading... It can be like shooting fish in a barrel, or it can be like stepping into a barrel and then shooting yourself in the foot. Wiley, buddy, don't get all in a big rush. Almost without exception, every time have gotten into a hurry I hurt myself. Waiting waiting waiting waiting..... Start treating the waiting for what it is... the most important skill required for success...imho. Wiley, good luck with it. Listen to yourself and make your own way. It all boils down to that anyway. funk