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For the record, the below was written by JAC. I
responded to it.
Cheers,
<FONT face=Arial
size=2>Dom
----- Original Message -----
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Ira Tunik
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, May 09, 2002 9:28
PM
Subject: Re: [RT] qqq
If you want to hold on to the QQQ because you don't want to
take a loss, that is the wrong reason. The first loss is the best
loss. If you are looking for a way to correct a trading error by
compounding it with a strategy you don't understand, you are making a greater
error. There are many option strategies that will satisfy your need
because you want to hold onto the QQQ. The other mistake, I believe,
that is being made here is that it appears you are looking for an option to
expire worthless to put money in your account. Also the wrong
attitude. Options were meant to be traded or used as a safety net.
There are other uses for options but that gets into the sophisticated area of
options. Before you try to save yourself with option time premium
erosion call the CBOE and get all the free information that they have on
options. It is extensive and some of the best options material
available at any price. Hope that things work out for you. Ira.
Dom Perrino wrote:
<BLOCKQUOTE dir=ltr
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<BLOCKQUOTE
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=JAC1390@xxxxxxx
href="mailto:JAC1390@xxxxxxx";>JAC1390@xxxxxxx
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, May 09, 2002 8:06
PM
Subject: Re: [RT]
qqq I am holding a position in
QQQ's down 20 points. Can anyone recommend <FONT
face=Arial>a strategy for writing options on position with
the intent of not <FONT
size=-1>selling position. In other words if position gets close to
getting called away I
want to maintain position rather than realize loss. Pie
in the sky thinking?
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