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Strategies & Market Trends : DayTrading the OEX -- Ignore unavailable to you. Want to Upgrade?

To: Aaron Weiss who wrote (60)	6/4/1998 9:53:00 AM
From: jef saunders	Read Replies (1) \| Respond to of 94

short term, the oex has support in the low 520s, but you are probably right and i am not !

To: Aaron Weiss who wrote (60)	6/4/1998 10:52:00 AM
From: Steve Robinett	Read Replies (1) \| Respond to of 94

Aaron, <<I just got stopped into some OEWRH's (OEX June 540 Puts) at 20!>> As you can tell by my post to Jef, I think the probabilities at the moment favor the upsides, but my question doesn't have to dow with that. Why are you buying very expensive deep in the money puts? Are you trying to get them deep enough in the money so you're playing mostly intrinsic value with very little premium, i.e., trying to get point for point with an OEX drop? You don't have to go 20 points into the money to do that. Am I missing something? Best, -Steve