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[QUOTE]Originally posted by Happy Valley: [QB] Yes...I generally trade calls/puts. Usually SPY, QQQ, IWM, IBB, GLD, GDX etc. Love the liquidity of ETFs and it's the easiest way to garner exposure to a number of sectors and many of the high beta and momo names...Earnings season is the exception but when I do buy/sell individual names, I generally stick with the big boys, they are liquid and fairly easy to get in and out of with virtually as much size as you want to take on. I learned the hard way, if you play with illiquid options, you damn sure better be right because there is zero room for error. Every day you are wrong, spreads get larger and premiums erode in a hurry. Unless It's an event driven play or leaps, I stay away from them altogether. My advice to you... As cliche as it sounds...Paper trade, paper trade, paper trade!!! I cannot stress this enough, options are a completely different animal, you really need to understand how they work and how big money uses them to their advantage before you even consider placing your first trade. [/QB][/QUOTE]
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