Forum Archive Index - September 2003

["Morgy 40" <morgy40@hotmail.com>]

Moira

Somehow I ended up with an options book and have begun reading it to see 
what they are about, I have always felt that the maths was a little complex 
for me at this time, all those betas, deltas and gammas or is that futures, 
I am going to tap Woody on the shoulder for some more info on futures but I 
appreciate the web sites. May I ask what you use to trade, i.e off charts or 
FA scans, what drives your trading strategy.

Regards

Morgy

>From: "M & P Biggs" <moirabiggs@xtra.co.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: [sharechat] options trading
>Date: Tue, 23 Sep 2003 19:44:58 +1200
>
>Hi Everyone
>
>I have been a reader only of this forum for some time.. I trade options on 
>both ASX & US markets.
>Options trading has had some quite bad press lately in consumer etc. As I 
>am sure you are aware options are likely to be traded on the nzx next year, 
>so I would encourage people to find out the truth about options rather than 
>the horror stories.
>Most of the bad stories come from people who have been given limited 
>education & are expecting unrealistic returns.
>I started trading options buying calls & puts & had some great gains but 
>also some great losses.
>My trading style has changed to a more conservative style of spread trading 
>which is a combination of buying & selling a option on the same underlying. 
>I also trade to exploit volatility which can have a substantial impact on 
>the option premium.
>The pricing of options is very complex & has a lot of factors to take into 
>account, so I use a specialist option analysis program to do the work for 
>me.
>For me options trading is good, although I am not making millions as some 
>people are led to believe I make a reasonable return.
>
>Some good links for people who are interested are
>
>1. http://www.asx.com.au/markets/Options_AM2.shtm     The asx site has lots 
>of great info
>
>2.   http://www.options21.com.au/   Who offer training in options given by 
>people who have worked in the markets for 20yrs or more.
>
>3.  http://www.optionvue.com/  Options software
>
>4.  http://www.optionsxpress.com/ online us broker for options, you can 
>open a paper trading account online & use their full site facilities
>
>So let us give options trading a chance as I am sure it has a place in our 
>stock exchange
>
>Regards
>
>Moira

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