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These continue to be kind to me without any "put" to me in 6 months.
I have had to take on a bit more risk for this period. One aspect is
that I was more able to negotiate price between bid and ask, and now
often pay closer to the bid...having said that I just got a great
price for the newest S put.
I have found a screen that really seems to be helpful. I look for
stocks with a beta between 0.5 and 1.0 along with a PE between 5 and
10 plus preferably trading in the 20's or less.Often I screen PE's
between 5 and 15. It seems market action has least affect on these
low beta as would be expected. This is what I currently have on:
Jan '03 EXC strike price $35
Jan '03 GE strike price $17.50
Jan '03 ITG strike price $20
Jan '03 JPM strike price $15
Jan '03 KG strike price $15
Jan '03 S strike price $15
Feb '03 KBH strike price $30
Feb '03 SWY strike price $17.50
Mar '03 AHG strike price $17.50
Apr '03 S strike price $12.50
Now averaging between $3000 to $4000 per month on just Puts and
nominal commissions with flat rate from Saloman Smith Barney.
I have studied most of the option systems offered by various vendors
and have not been impressed and cancelled after trial periods. If
anyone out there has seen anything decent in the option area, I would
be interested to learn of it. The biggest problem is their exits and
stop losses which are difficult to obtain in the real world.
John
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