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  • sjs1234321 sjs1234321 Feb 2, 2005 5:56 PM Flag

    Sell my Feb calls? life savings. HELP!

    Thank you. I really wish I was joking. Sadly I am not. Here's the thing. I've got about $48K total assets left to my name, with which I need to pay the mortgage, etc, and I have no income coming in.

    Even if I wanted to, that $48K is not even in the brokerage account, I'd have to wire it in which probably wouldnt be there till Friday.

    The $48K is money I really cannot afford to lose obviously, need at least $20K in there to pay the bills for the next few months.

    Now, if I did do it, I am very scared. I never did a straddle before. Wouldn't I loose money either way, because if the stock goes up, I loose on the Put, and if the stock goes down, I loose on the Call? How do I make sure that the losses on one side are less than the gains on the other? Is this related to IV and other things out of my control or is this method relatively guaranteed to stop the bleeding? I wish I had more time to research this.

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