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FANTASYLAND--HELP
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krly



Joined: 15 Jun 2000
Posts: 6

PostPosted: Mon Aug 07, 2000 2:28 pm    Post subject: FANTASYLAND--HELP Reply with quote

If you had a passive income of $2000/month and wanted to be a full time wind rat (sail all year) what area(s)
would you look into. Not having to own a car would be a real plus. Right now Im an advanced beginner--2 out of 5 waterstarts and not yet in straps, but no kids no pets and Im in the mood to drop out--any ideas ? Go ahead and dream.
thnx
krly
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fromIndy



Joined: 06 May 2000
Posts: 22

PostPosted: Mon Aug 07, 2000 8:23 pm    Post subject: RE: FANTASYLAND--HELP Reply with quote

I dont know where but tell us how you earned the passive income.Did you do a mlm?
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krly



Joined: 15 Jun 2000
Posts: 6

PostPosted: Wed Aug 09, 2000 1:11 pm    Post subject: RE: FANTASYLAND--HELP Reply with quote

Indy, its an option trading strategy-very conservative. Youd need about $25k in margin.
krly
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rasdpm



Joined: 17 Apr 2000
Posts: 149

PostPosted: Wed Aug 09, 2000 5:08 pm    Post subject: RE: FANTASYLAND--HELP Reply with quote

youll need a car for this adventure, a few of them. Start looking now for a VW van, several weeks wading through the used vehicle adds will pay off. Head down to La Ventana, Baja in Nov. Sail through April, then bring your rig and bomb proof water start and solid jibe to the Gorge. Perfect your jibe, get your chop hops down through July. Sell your van, head to Maui. Get your wave technique groovin, then fly to Australia, buy the same bus, and cruise up and down the west coast next nov through Feb. Marry the chic sitting next to you, then move back to the Gorge and have a good life. You shall obtain total enlightenment.
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rasdpm



Joined: 17 Apr 2000
Posts: 149

PostPosted: Thu Aug 10, 2000 10:09 am    Post subject: RE: FANTASYLAND--HELP Reply with quote

not the babe on the plane dude, the chic in your vw bus that joined on half way up the Z coast, cause she shreds...
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rasdpm



Joined: 17 Apr 2000
Posts: 149

PostPosted: Thu Aug 10, 2000 10:14 am    Post subject: RE: FANTASYLAND--HELP Reply with quote

the gorge is 7/8 water, with the white crystal form just up the hill, youll want to stay put at least until you can recreate the fresh huckleberry shakes at Mikes icecream, then maybe its time to search on...but your kids will be in gradeschool by then so youre here for the duration...
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krly



Joined: 15 Jun 2000
Posts: 6

PostPosted: Thu Aug 24, 2000 1:08 pm    Post subject: RE: FANTASYLAND--HELP Reply with quote

Mike, in a nutshell, each month sell a put 7% below the mkt. and buy a put 10 pts. lower. Go for a credit of 2 pts. min. Do the same with calls-sell 1 7% above mkt, buy one 10 pts higher, get min. 2 pts credit. Hold all till exp. By the way were talking S&P options here. 1 pt. = $250. You can have one strangle per $2500. So with 25k you could actually put on 5 positions (times 4pts@ =20 pts/mo. = $5k/mo.) I only do 2-3 positions/mo..more conservative. Number crunching shows this works 93% of the time over the last 17 1/2 years.
Only recquires calling your broker once a month.
See ya on the beach.........
krly
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krly



Joined: 15 Jun 2000
Posts: 6

PostPosted: Thu Aug 24, 2000 1:12 pm    Post subject: RE: FANTASYLAND--HELP Reply with quote

Whoops--duh ! With $25k you could put on 10 positions not 5. Still, be conservative and dont use more than 50% of your margin.
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krly



Joined: 15 Jun 2000
Posts: 6

PostPosted: Tue Aug 29, 2000 12:36 pm    Post subject: RE: FANTASYLAND--HELP Reply with quote

Mike, the options expire the 3rd Friday every month. You open (or place your order at 2 pts. credit or better on the following Monday.
Your risk is 10 pts. MINUS the credit received (usually 6-8 pts. risk). If the market drops more then 10 pts you will lose on the spread BUT start to make money on the put you bought. Some months you cant get your 2 pt. spread and only buy half the position (usually buy/sell calls and cant get the puts). No big deal, just a little less profit......
krly
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