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In a message dated 98-08-22 07:31:50 EDT, charlie@xxxxxxxxxx writes:
> don't you all agree there is more bang for your buck if you are day-trading
> oex, verses s+p, not to mention NO MARGIN CALL, even if holding only a few
> days, the time value is basically irrelevant (spelled right?).
Gary
I totally disagree with the statement that time value is not
important. I used to trade the oex options, and the time value can kill you.
At least with the futures, the value of your position doesn't fade away, if
the market doesn't move. I can remember buying options, and watching the
market slowly drift in my direction, and watching the options lose value
because of time decay. You need to both be right about direction, and have a
volitle move in that direction. The key to me if you are going to do what you
are doing is when you get a thrust in the right direction like we had Friday
morning is to take advantage, and take profits, because if the market moves
the other way, you have both price and time working against you. My
humble opinion.
Pete
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