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

To: GROUND ZERO™ who wrote (8067)	11/8/1998 9:51:00 PM
From: Brian Hornby	Respond to of 44573

GZ - Certainly looks like a complicated situation. If there is a trading range I could establish with bonds I would be tempted to try writing some straddles, however bond option prices look undervalued with the bonds. Best perhaps just to buy or sell the contract. S&P premiums are still high, and especially puts. This month my S&P "positional" plays have largely been options writing, and mostly puts, I covered my only naked call position (at a small profit) the day before the market took a big move up. Later this month I may write calls, if the market looks to be topping out. Most of my put writes this month (700, 725, 800..) are now worthless, with a small 1030 put position the only thing vaguely at risk.