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

To: Tom Trader who wrote (10339)	12/15/1998 1:46:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

I took my short off during the SI blackout at 61.50 I think it was. Anyway, basically a flat trade. Was looking for a real short between 1165 and 1167. Looking for a real long if SPX can get through 1150. -Scott

To: Tom Trader who wrote (10339)	12/15/1998 3:12:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

I entered a long early, rode it down and then back up for 300 points. I was hoping it would pull back to 64, 65 so I could catch a train into the New York Close, but I'm not getting my price, it appears.

To: Tom Trader who wrote (10339)	12/15/1998 6:06:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

Recieved the following from LFG. I know it doesn't apply to your straddle theory and, well, would negate it, but I thought I would post it here for anyone else that might be in a position. Something to consider. -Scott ------------------------ December 15, 1998 Re: This week's S & P option/futures expiration The last trading day for December S & P futures and options is Thursday, December 17. Keep in mind, however, that the final settlement price will not be established until the opening of the underlying cash index as defined by all 500 stocks on Friday morning. The prospect of a late night impeachment vote on Thursday sets the stage for a very volatile opening of the cash market on Friday. This means that in-the-money options could suddenly be out-of-the-money, and more importantly, short, out-of-the-money options may suddenly be big losers. The only way to protect your profits or to prevent unexpected losses is to liquidate December positions prior to the close of trading on Thursday. We recommend exiting all short positions, particularly anything within 5,000 points of the market in either direction, as well as in-the-money longs. The collection of a few ticks of short option value, or exposing long option value to erosion, is simply not worth the risk. Please note that our recommendation applies to both Puts and Calls.