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I will answer it the best I can
As traders we all know that YOU do not anticipate
but participate,,
However,,
what to do with conservative money which one can NOT afford to
loss ANY principle and still create income,,
Selling covered calls is PARTLY the
answer,,
because it does create 5-8% MONTHLY
income,,
but what is the qqq goes down MORE than the premium
collected?
now you are losing principle!!
the answer is buy a put,,
so in Feb. I bought tons of qqq at
38
sold the march 39 calls at 3.1
and bought the Feb. 37 put at .75
on theresdy close,, I replace the Feb. put
with a march put
and bought to close the march call about 10-15
minutes to the close on Fri.
and sold the June call market on close
this is why I needed that info!!
now fully protected again,, and with nice income in my pocket
to party,,
my guess was 36.5 and I was not that far
off
(just from the pure open interest)
nice weekend
Ben
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
BobR
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, February 15, 2002 8:49
AM
Subject: Re: [RT] Where will qqq close
fri
I've been rethinking Ben's question in regards to
IRA's exit yesterday.
The question arises why would Ben want to know
the Friday Close for QQQ? Or did he mean QQQ in relation to options
settlement? He could have been trading either or both. <FONT
face=Arial size=2>Don't QQQ OPTIONS expire on Friday's open along with
NDX options? If so then the questions could have been:
"Where will the QQQ Open Friday morning when the
options settle?"
or "Where will the QQQ close Thursday?" not
as good a question...
or even better yet, like IRA calculates, "What is
the highest or lowest level the QQQ is likely to reach before Friday?"
This would be the best question for trading QQQ or its options.
This really makes the most sense from a trading
perspective, so sense Ben's question may have been ambiguous, I will tip
my hat to IRA for sticking to an intelligent methodology.
bobrTo unsubscribe from this
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