Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: TradeOfTheDay who wrote (4488)	9/23/1998 2:04:00 PM
From: steve susko	Read Replies (1) \| Respond to of 44573

Have you switched over to put? I sold my call yesterday, bought the day before; just a day early.

To: TradeOfTheDay who wrote (4488)	9/23/1998 2:22:00 PM
From: Tom Trader	Read Replies (2) \| Respond to of 44573

Bev, I bought a few of the 520 calls when my system went flat the other day when the market reversed--now your astrologer may have had a bit to do with it as well:) Today I sold the 530 calls against them to get back some of my premium and will complete a ratio-write with the 530s either today or tomorrow--may be when your astrologer and Don Sew, tell me that the time is ripe:) When I get a sell signal on my system--which is still flat as of now--then I'll close out the 520s that I am long and keep the 530s naked. I have done this sort of thing several times -- and it does work. Re Schwab or for that matter anyone else that you use, in addition to Pat's comments, the important thing is to have the right desk handling your orders for options -- makes a world of difference. Also since I do a lot of naked options strategies, I need people who are familiar with my approach and have the confidence that I have enough in my account to cover the margin requirement without wasting my time while they figure it out before placing the order. The desks that I work with just take my order and transmit it. Now if you go thru the general Schwab order desks, it would take forever and a day and if one is selling naked options then they would drive one nuts. As far as the size is concerned, I am a fairly aggressive trader but compared to some others who have in the past posted the number of contracts that they have open--assuming that they were not hyping it-- my trades seem rather modest. I have heard that Brown is very good as well--and so it may be worthwhile checking them out. BTW, with Greenspan ready to do his thing I would think that a straddle would work--because the market is either going to tank or shoot up -- probably both. But I am not nimble enough for this sort of thing.