Anyone here have an I.Q above 50?As I said yesterday:"I went...

Anyone here have an I.Q above 50?

As I said yesterday:

"I went long amp and ncp today. This is not because I think they are cheap, but because I needed to hedge my portfolio of puts and written calls. NCP because it is a proxy for nasdaq, and AMP cos it is a proxy for FTSE.

If these calls rally tomorrow, I will write calls at a higher strike. This then means I cannot possibly lose money on the deal. I still make money if the stocks rally, but if they dont I lose nothing, and have obtained cheap insurance for the next month. This is exactly what I did last month. And it cost me NOTHING.

If the markets keep tanking my puts and written calls will keep me laughing at hell for a while yet."