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For my own and possibly others, how does one convert the sale of a
put to a credit spread.
John
------------------ Reply Separator --------------------
Originally From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
Subject: RE: [RT] Interesting Puts
Date: 09/25/2002 11:14pm
All you have to do is convert the naked position to a credit spread
position.....
it's easy.
but greedy people (like Vic Niederhoffer) don't do it....it reduces
profits.
> -----Original Message-----
> From: ira [mailto:mr.ira@xxxxxxxxxxxxx]
> Sent: Wednesday, September 25, 2002 8:14 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Interesting Puts
>
>
> Selling naked options can be very risky. There are many other
> ways to trade
> with the same or better profit potential and have limited risk.
> As a market
> maker and as a trader, I have always abided by one rule. " Never
be short
> more options then you are long" That rule stood me in good stead
until I
> retired and in the 18 years thereafter. Ira
> ----- Original Message -----
> From: "John Cappello" <jvc689@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Cc: <MedianLine@xxxxxxxxxxxxxxx>
> Sent: Wednesday, September 25, 2002 12:44 PM
> Subject: [RT] Interesting Puts
>
>
> >
> > Yesterday I sold Dec. puts on GE with a strike price of 22.50.
Nice
> > premium.
> >
> > Today, before market rise I sold Dec. puts on JPM with a strike
price
> > of 15.00. Nice premium.
> >
> > My concept is that if the strike prices were hit I would not mind
> > owning the stocks at those prices. If not struck I keep the
premium.
> >
> > I had previously sold Sept calls on GE with a strike price of
35.00.
> > Premium became mine when options expired.
> >
> > I am looking for other ideas that have value along these lines.
> >
> > John
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
>
>
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