-----Original Message-----
From: Ricky Jimenez
<.... Can one always eliminate such areas by selling ATM premium and buying
OTM premium? I doubt it is that
simple.
mc- no it's not simple. What I try to do is try to keep the profit zone
centered around the atm strike and look for opportunities to build some risk
protection outside. It doesn't always work and sometimes it gets me into
real trouble.
I predict that Michael will do something new in this trade,
to be risk free after the last adjustment on 5/20.
mc- I'll be lucky if I don't completely embarrass myself on this one.
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