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Best strategy I've seen in a long time for this group. If the futures goes
down first, why not buy more calls to adjust to same delta position you had
when you entered the trade. Hope it works out, Ira..
Steve Schnake wrote:
> RT's
>
> In response to "yeppers cocoa trading" I guess I could at least respond
> with my current strategy. EW I think we may be looking at a signifigant
> long term support/6 year bottom 1390 to 1420 nearby. On 12/08 I bought
> 4-1500 Mar.cocoa calls at 25, and I sold 1 Mar. future at the market(1437).
> If CCH falls a point I buy to close, and hold the options. If CCH bounces
> and rallies I hold the short and watch the wave action and look for profits
> hopefully in the 1700 to 2000 area. So as you can see, I think cocoa is
> going up from here, that is, of course unless it goes down!
>
> Respectfully,
> Steve
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