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We ask that question at the beginning of many seminars ...
we solicit a show of hands and generally about half the hands go up.
The number appears a little higher lately(<FONT FACE="ver the last">over
the last couple of years)when actual volatility has been higher than implied).
You might want to attend a seminar in your area and find out. We
recently had a retail customer at a Chicago seminar who was selling puts
on the internet issues. This guy had been more lucky than smart,
which is clearly a percentage of the success stories, he ran about $300,000
to over $10 Million. He didn't understand volatility ... he didn't
understand risk management or money management, in fact his brokerage house
had sent him to the seminar. Some portion of the folks we see are
just plain lucky, but since the migration of much of the option business
to discount firms, a great many individual investors have been become very
well educated and very good at trading. You might want to go to www.optionscentral.com
and get the schedule of a seminar in your area and attend a free seminar
first.</FONT>
<P>j sebastian wrote:
<BLOCKQUOTE TYPE=CITE>I am curious to know if anyone has ever heard of
a retail client
<BR>consistenlty making money in the options market.
<P>-----Original Message-----
<BR>From: THE DOCTOR <droex@xxxxxxxxxxxx>
<BR>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
<BR>Date: Wednesday, March 24, 1999 12:11 AM
<BR>Subject: CBOE Advanced Seminars
<P>>I promised I would post details of the new developed
<BR>>advanced options seminar. This is the first time a seminar
<BR>>this advanced will be given by the CBOE. The focus will be
<BR>>trading in a market with rapidly changing volatility, using
<BR>>and understanding VIX, when not to trade and a number of
<BR>>other topics will be covered. The details are at www.cboe.
<BR>>com. Seminar dates and locations are 4/22 at CBOE, 4/24 in
<BR>>Schamburg, 5/18 Mid-Town New York, 5/20 Greenwich, Conn.,
<BR>>6/08 L.A. and 6/10 Newport/Newport Costa Mesa. The 2
<BR>>Chicago area seminars will have market makers and floor
<BR>>brokers on the program as well. These seminars will have a
<BR>>$100 fee with a cancellation penalty.
<BR>>I'll be doing the Mid-Town New York and Greenwich seminars
<BR>>which occur during expiration week.
<BR>>
<BR>>Details are at www.cboe.com
<BR>></BLOCKQUOTE>
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</x-html>From ???@??? Thu Mar 25 04:30:29 1999
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From: Dan <buchach@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Options: Index
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I actively sell puts and calls on stock, however have not ever done so
with indexes like the OEX.
How does one cover oneself, ie, the equivalent of a covered call, when
there is no underlying stock to be held - are these traded strictly
uncovered or on margin?
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