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Strategies & Market Trends : Advanced Option Strategies -- Ignore unavailable to you. Want to Upgrade?


To: Joe Waynick who wrote (91)8/1/1998 10:20:00 PM
From: Vol  Read Replies (2) | Respond to of 355
 
OK, Joe I'll pick up the ball for you...

NEW ONSL POSITION
ONSL 24 11/16
Buy 10 Dec 25 calls 5 3/4 ask
Buy 10 Dec 25 puts 5 1/2 ask
Short 1000 shares

I shorted because the chart looks more like a downtrend to me. Plus market psych is a bit bearish short term. Should I have gone LONG? Time will tell. Anyway, I'm covered by the straddle.

Let's see what happens!
Suggestions welcome!

Vol