December 10, 2002

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Dear Ralph:

Welcome to week nine of the 21st Century Options Trading Course!

If you need to access a lesson or self-test from a prior week's course, 
simply click on the following link:

http://www.21stcenturyoptionseducation.com/oc/

This will connect you immediately to our complete index of all lessons 
and tests, listed by week and title. Once you arrive at the index, you 
may access any desired lesson or test from a prior week's course by 
clicking on its title.

This week, we'll take a close look at some advanced trading 
strategies.  We'll focus on the strategies that are the most common at 
the advanced level so will likely be the ones you hear about first.  
While they may appear to be easy to understand, we'll show you how 
most traders end up on the losing side of the trade.

New topics include:

Butterfly and Condor Spreads (plus some variations of the condor):  
These strategies are really nothing more than a combined bull spread 
and a bear spread; however, they are primarily used by market makers 
as a way to take advantage of small pricing discrepancies between 
these vertical spreads.
http://www.21stcenturyoptionseducation.com/oc9/001-butterfly.html
http://www.21stcenturyoptionseducation.com/oc9/002-condor.html   

Calendar Spreads:  The calendar spread is a powerful strategy designed 
to exploit time decay between options.  However, many traders confuse 
it as a bullish strategy and wind up on the losing end.  We'll show 
you how to interpret these spreads and when to use them.
http://www.21stcenturyoptionseducation.com/oc9/003-calendarspread.html

Now you can see these options strategies in action by following the 
experts at 21st Century Options.  Your trial subscription is fully 
guaranteed.  To subscribe today, go to: 
http://www.21stcenturyoptions.com/subscribe/

Next week, the 21st Century Education Center will continue with 
advanced trading strategies.  We'll notify you by email when these new 
articles become available.

Your username and password for accessing the site are:

Username = rnemo 
Password = z5c9j6

If you have questions about your enrollment, email: 
[EMAIL PROTECTED]

We'll be with you every step of the way.  If you have a question about 
a class, ask the instructor.  Just email: 
[EMAIL PROTECTED]

Best regards,

James DiGeorgia, Publisher
  



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