Larry,

I was curious about your opinion on the ADVP 35 straddle. It appears to be breaking out of congestion.


Also I, like Maggie, got caught with one leg of a straddle. I hestitated and now the call (JCP 17.50) is up 25%. Good lesson - when one side is executed, get the other leg opened immediately.

I have also initaated the CCU ($10.60) and UPS ($10.10) strangles.

I'm finding this a lot more rewarding than only looking for trades.

Thanks for you help...

Wayne

Those straddle prices should have been 5.05 for CCU and 2.60 for UPS ...

My gosh, Wayne - you must be clairvoyant! I just put that ADVP straddle on no more than 2 hours ago. I paid 5.10 for the Sep 35's. I don't think you can get it for that now because ADVP has shot up since then.

The stock was at about 34.90 when I bought the straddle. It's at 35.40 at the moment. So you have to make a choice to buy it now and pay up a little for it or to wait and hope you can get it a little cheaper. There is no right or wrong answer to that, just make sure that you don't chase it too much. There are good straddle candidates every day.

But, yes, obviously I like the ADVP straddle. Some of you guys are getting really good at this

Larry