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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (19431)	8/21/1998 12:05:00 PM
From: Proton	Respond to of 50167

Re: Stuff I could not presume to know Ike's current situation or schedule. Fair enough, but yours just happened to be the last post in the thread. General responses happen, you know. :-) Obviously, one hopes nothing untoward has happened to I.L. Given the events of the day (options expiration, currency situation, 3%+ decline), the timing of his absence is not propitious. P.

To: Roebear who wrote (19431)	8/22/1998 6:15:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

<<And as far as prognosticating prowess (wizardry) I hope he continues.>> Thanks for being so sure about me and replying on my behalf-- I assure you of my highest considerations and willingness not to shy away from action- I thrive in this kind of extreme situations- these were my trades on days of extreme movements-- Wednesday- I covered my SPX Sept 1020 shorts at 9 which I had sold on the first dip for 18- I left my 1120 calls uncovered which I had sold for 13 but were trading around 21-22. I believed in my strategy that market will tend to move in between points so I took advantage of that move and legged out of my short puts. Thursday-- We saw the market weaker, the pits were expecting it to drift to lower levels to 1080 but we decided to cover my 1120 naked calls at 17 around 1096 level preferring to lose some 4$ the spread was still leaving me with a decent profit if 5$, however I left intact the 1140 Sept naked calls running,-- as market closed weak. Friday-- I covered the naked calls Sept 1140's at 6 at a good profit(had sold them for 9) at the same time initiated at 1074 levels seeing Germany closing heavily down at -5% to buy 1050 puts for 24 and change got out of them at 29 and change at 1065 after the rebound from 1055, never really got in to sell at that lows it was less than five minutes- and sold 980's at around 1065-67 same level for 13,- the market rallied and so did the puts premium I suppose - but I think 980 for me at that extreme level of pessimism was a acceptable risk. Considering my leverage of my portfolio, my trade size corresponds to size of my exposure. All these trades with Soloman Smith Barney - CT branch- , Ray will help anyone if one needs need to know about this kind of trading, as this is a full disclosure thread, I post and trade- no trade is ever posted if intention of execution is suspect. A ticket to a post is my ''motto''. I am long SOX 290 Sept and SOX 260 Oct at 5 and change and 8 and change- I will continue to run this and will hedge SOX long calls with my naked exposure on SPX calls- i.e . on back of my SOX calls I may sell some SPX calls now that I am free on upside. I have also sold SOX 220's puts and DDX 125 for some additional change towards 3.00 PM EST..I do not intend to cover them rather I will cover this thru my additional more liquid SPX contracts if SOX and DDX continues to break below DDX129 and SOX 227. This is a high risk trading and should only be considered if options is way of life and you have a full service broker who can be reached.