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

To: TradeOfTheDay who wrote (5996)	10/9/1998 9:58:00 AM
From: Tom Trader	Read Replies (2) \| Respond to of 44573

>>I will only be on a roll if they don't strip all the premium ! Be very careful on the longs--because they will strip the premium. Remember that you bought when the VIX was in the high 40s may be 50s. One of the reasons that I went with the spreads as opposed to closing out the calls completely was that the premiums were so high despite the decline on the calls that I was naked, that my profit on the calls that I sold naked was being depleted by this factor. Also remember that after this weekend there will be more erosion in premium. So -- unless you are confident that the market is headed much you need to look at closing out and taking profits or utilizing a spread/ratio-write strategy. Will be glad to help you in anyway that I can