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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Electric who wrote (43418)	5/18/1998 11:09:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

The front month on the contracts in the SnPs right now is June. The year only has 4 changes of contracts. March (symbol "H") June (M) September (U) and December (Z). Moving 1.00 points equates to a change of $250. There is zero premium in futures. If the market moves a point you get or lose all of it. It's a zero-sum game. I usually do from 4 to 10, sometimes a bit more. Today I sold 4, covered 2 for 2.10 points, and still am short two with a trailing stop. I guess I could cover the other 2 here and it would net me over 5 full points on the other two but Tom rubbed off on me a little and I am holding a bit longer. Probably a mistake but I won't let it get away from me.