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

To: Jan Ravi who wrote (204)	9/10/1998 12:07:00 AM
From: Joe Waynick	Read Replies (1) \| Respond to of 355

Hi Jan! Yes I still have my position in PLAT. I'm sticking since my PUT's cover my downside. Long term I still believe PLAT will pop back up to $26.25, but there are so many good plays in the market right now, I wouldn't tie up serious capital right now waiting for the pop. However, if you want to buy the dips and short the highs, you should do fine while PLAT moves sideways. Short at $22+ and cover at $20. Then go long at $20 and sell at $22. Stick with a small position, maybe 200 - 300 shares and have fun.