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

To: Tom K. who wrote (141)	8/15/1998 7:06:00 PM
From: Joe Waynick	Respond to of 355

Actually Tom, I don't want the stock to move beyond the range. I want it to peak and fall repeatedly until I've extracted my entire option premium. For example, if you look at my earlier posts with ONSL. It was behaving beautifully until I got cold feet and exited the trade. I was a single trade away from being risk free. I wish I had stayed in because my fears of a nosedive did not materialize and I had to give up $3k of the $8k I made to get out of the position. I have another stock in mind and as soon as it sets itself up, I'm jumping in. Having learned some valuable lessons from ONSL, I intend to stick with this one until it plays out. Thank you for your words of caution.