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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (23131)	8/3/1998 8:49:00 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 94695

...but I think the odds are in your favor if you went far enough out in time. tippet, actually, the really attractive thing about this is that it only has two weeks and three days left. The short side has a huge time premium while the long side has almost none. Both contracts are now in-the-money, so the market could even rise a little without reducing the return as the intrinsic value is already maxed out. With the unrelenting weakness in the market lately, I don't see a lot of risk of the market going back over 1140 toward new highs and think testing of lower support levels is more likely (the trend is your friend, right?), but I don't need it to go down. Unlike long puts, sideways will do just fine. Now, watch the S&P hit 1180 next week.;-) Bob