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Could someone tell the group about the best options book they ever read. An options book that gave option strategies that the author actually used. I went to a 3 hr seminar with quantum vision and they want me to spend $3,000 to go to their bootcamp to learn how to trade option spreads. The example that they were real hi on, was watch for a company that is going to announce earnings and about 3 weeks before the announcement, buy calls and buy puts at the same time and hope the price goes high or low enough to make you some money. Does anyone have experience with Quantum Vision? Thanks for the info.
Steve Merkley
-----Original Message-----
From: Prosper [SMTP:brente@xxxxxxxxxxxx]
Sent: Monday, January 15, 2001 5:54 PM
To: realtraders@xxxxxxxxxxx
Subject: [RT] Re: Options question (buy both a bull and bear spread)
Thanks for your help Dom.
So I can understand your post better could you state what you think
the order would actually be. IE buy one 106 call and sell a call at
___ and then buy a 106 put and sell a put at ___.
Thanks
Prosper
--- In realtraders@xxxxxxxxxxx, "Dom Perrino" <domenick@xxxx> wrote:
> Options are very useful instruments. They can be used alone e.g.
buy calls
> or puts; in conjunction with stock ,futures, or other entities the
can be
> used to protect profits, limit losses and many other strategies. I
strongly
> recommend reading up on options because of the many uses they can
be put to.
> Regarding the particular example first bear in might that would
have
> resulted in a credit to your account since the sale of the two
options
> would be greater than the purchase of the other two. If there a
sideway move
> let all options expire and you keep the original credit . If a move
above
> 107 or below 105 you can sell all and the gain on the call and/or
put
> should be greater than the loss on any diferrential move on the put
and call
> sold. Another thing you can do is to leg out the two winning
options on a
> swing up and leg out the other two on a downswing. I do not
recommend this
> because it will leave you with one uncovered option. There are many
creative
> ways to use options from the simple to the complex .
> P.S. Ira's post gave an example of how option use come to you
as your
> need for them arises.
> Dom ----- Original
> Message -----
> From: "Prosper " <brente@xxxx>
> To: <realtraders@xxxxxxxxxxx>
> Sent: Monday, January 15, 2001 1:34 PM
> Subject: [RT] Options question (buy both a bull and bear spread)
>
>
> > Hi I have been thinking about Dom's suggestion. Seems that this
idea
> > may be a good one. How would a person manage the position after
> > entering it, for example if the security goes no place but
sideways.
> > Or if it breaks out stronly one way or the other. Or if there is
> > extreem volatility like the spoos have experienced over the last
> > year. Thanks for you input and thanks to Dom for suggesting this.
> >
> > Prosper
> >
> > --- In realtraders@xxxxxxxxxxx, "dom perrino" <domenick@xxxx>
wrote:
> > > I beleive that's a vertical spread Something I suggest you might
> > toss around
> > > that would be more conservative is to consider a bull spread
and a
> > bear
> > > spread at the same time(referred to as a box spread). In your
> > example you
> > > would sell one 106 call and sell one 106 put. You would also buy
> > one 105 put
> > > and buy one 107 call. . You have limited risk/limited reward,
> > provided you
> > > don't leg out of the bull or bear spread seperately.This is
based
> > on my
> > > knowledge as applicable to stocks. I have not traded futures in
a
> > few years
> > > If it works differently on futures someone will correct. There
are
> > numerous
> > > strategies regarding options, some of which are very complex as
> > seen here on
> > > recent discussions..
> > > Happy Holidays
> > > Dom
> > > ----- Original Message -----
> > > From: "Prosper" <brente@xxxx>
> > > To: "Real Traders" <realtraders@xxxxxxxxxxx>
> > > Sent: Wednesday, December 20, 2000 10:34 PM
> > > Subject: [RT] Options question for Ira and other options
experts.
> > >
> > >
> > > > Hi,
> > > >
> > > > I was thinking about an option play that would require that
you
> > buy one,
> > > at
> > > > the money put 3 to 6 months out. Then you buy 2 calls out of
the
> > money by
> > > > two strikes. Or vise versa (buying a call and 2 puts).
Example,
> > buy 1 June
> > > > 106 T-Bond call and buy 2 June 102 T-Bond puts.
> > > >
> > > > I don't know if there is a name for this kind of trade. I
would
> > like to
> > > hear
> > > > some of the pros and cons for this idea.
> > > >
> > > > Thanks,
> > > >
> > > > Prosper
> > > >
> > > >
> > > >
> > > > To unsubscribe from this group, send an email to:
> > > > realtraders-unsubscribe@xxxxxxxxxxx
> > > >
> > > >
> > > >
> > > >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxx
> >
> >
> >
> >
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