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

To: Patrick Slevin who wrote (4876)	9/30/1998 9:33:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Hi Patrick and all I have been a shade indisposed and so was not logged on, for the most part, for the past several days. Hopefully, the worst is over and I can get back to trading again. My system remains flat--so I don't have a position in the spoos. I do have my OEX positions open still. Long a few of the 510 calls & a bunch of the 520 calls and short about two and a half times other strikes--515, 525 and a lot of 530s. Very low maintenance--since as long as the OEX stays below 530, I should be in good shape and if the OEX gets to about 520, I'll be in great shape and even if they all expire worthless, I'll still make good money. I meant to close out all/some of the longs if the futures rallied to the high 70s--but it never got there. I also own a few of the 470 puts and I am looking to set up the same type of ratio-write on the puts -- though I am a little wary of doing this because of the damage that can arise if the market breaks badly and the premiums shoot up with the increase in volatility. I have the utmost admiration for people like Bev who are nimble enough to get in and out fast and time it reasonably well. I am taking the lazy man's approach and letting the erosion that results with the passage of time do its thing for me.