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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (46794)	2/12/1999 5:54:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

T, You have got it, IMHO. The problem with pricey options is that, with all options, you will lose 100% when you lose. Assuming you will lose half the time, you had better make significantly more than 100% when you win. At least, that is my philosophy. True, Leaps give you much more time to be right, but they just don't have the homerun potential I cherish. Having a put go from $15 to $80, as my XALs did last year, is very gratifying. But having one go from $2.50 to $42, as one Citicorp put did is what I am shooting at. Everyone has to learn how to play the game the best way for their personality. I have a homerun personality. Many don't, but that doesn't make them wrong. Also, I can stand to see several $2.50 puts go to zero, and some can't hack that. Especially when the brain dead bulls on that issue show up and taunt them. My feeling is, being rich and getting richer and not working is the best revenge. <G> At least you have made profits while you are learning. But I fear that settling for 20% here, 40% there will prove a losing strategy, as you are going to hit the wall for 100% on at least some of these. MB