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    "Even with experience in the options market, I found Mr. Hecht's book helpful and informative. This book should be required reading for any investor or stock broker ... in option investing."Raymond P. Swartz, C.P.A. (retired), former stockbroker, Oppenheimer & Co.

    "This is the only book on options I know of written for concervative investors. The techniques you describe permit investors to better control the risks of their investment programs, and increase their profits. The book is well written and understandable. You have selected your material well, and the techniques you emphasize are those that are most useful to the average investor."William E. Grieb, Jr., co-author of Your Option - How to Successfully develop Put and Call Strategies (1974)

    "Mr. Hecht has written a valuable addition to the literature in the field of investment information. He has included the technical data in mostly layman's language. The result is an informative book, easy to read or study. I commend this book to all investors and their professional advisors."David Gindoff, C.P.A., former partner (retired), Gindoff & Swartz and Oppenheim, Appel & Dixon, C.P.A.'s

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Mervyn Hecht was educated at UCLA, University of Paris (Sorbonne) and Harvard Law School.

While still in law school, he authored an important article in Taxes Magazine on real estate taxation, and after law school he opened a law practice in Pacific Palisades California.

During 25 years of law practice he represented investment advisors and investors in a number of matters, and worked extensively for Charles Schwab and Merrill Lynch.

Mervyn Hecht was an active director of two companies providing computer education.

One of the companies was among the first to offer computer training on the computer, and while Mr. Hecht was active in management the other became, and remains, one of the largest technology education companies in the world.

Tuesday, 15 May 2012

A Walmart put spread

On may 10th I wrote a put spread on Wal-mart. I've been watching the stock, and I like it, but with the market moving down I thought a put spread is a chance to pick up some cash and maybe get the stock at a bargain. - So I sold 10 puts sep 55s for $1210 and bought 10 puts sep 45s paying $210, for a net credit of $1,000. I hope the stock goes down to 54 and I buy it there, but if not the $1,000 in my bank account won't hurt. - Merv

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Sunday, 13 May 2012

Market Update For Week Ending 5/11/2012

In this issue of Market Update: 1. U.S. stocks lost ground Friday as the major indexes were on track for a second weekly loss. 2. Issues Moving The Financial Markets This Week. 3. Finally Some Good News At The Gas Station.

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Thursday, 10 May 2012

WAL-MART TRADE

For those of you following my trades, I did this one today: - sell 10 WalMart Sep 55 puts and buy 10 Sep 45's for a net credit of at least $1. - With WMT dipping down below $60 I think it is worth $60 or more and I would be pleased to buy it at a net $54 if it continues to slide. Otherwise I'll keep writing these puts and taking in $1,000 or so at a time. - Merv

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DISCLAIMER: This is an educational site. The trades suggested on this site are examples to help the readers understand the principals of option trading. They are not intended as "tips" for actual trading and are suggested so that the reader can enter and follow hypothetical trades in the portfolio manager.

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