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

To: RBane who wrote (166)	8/27/1998 10:20:00 PM
From: Joe Waynick	Read Replies (2) \| Respond to of 355

Double dip means I double my position. For example, PLAT advanced slightly today then fell back to $24, so I bought 1,000 more. Then it fell to $23, so I bought 1,000 more. I actually triple dipped today. I stepped out for awhile and when I returned, I discovered it actually pierced $22 and I wasn't here to grab it! Better luck next time I suppose. Tomorrow I'll buy 10 more Dec 25 calls at $3 and protect 2,000 shares on the short side. I'll finance the calls with the 3.25 profit from the naked 1,000 shares. I won't go any deeper on this one. I'll RRT 2,000 shares instead of 1,000 and I'll buy the put protection for the second 1,000 shares when the stk peaks. It looks like I'll be risk free after only one trade!