Options Know-How: Waste Mgmt., AmEX - TheStreet

How much do you know about playing the stock market with options?

The following are highlighted options insights and ideas from

TheStreet.com

.

Mad About Options: Waste Management in the Dumps (Video, Aug. 1)

Jud Pyle and Matt Buckley review Jim Cramer's recent bearish comments about

Waste Management

(WMI)

and offer options strategies for traders and investors. Pyle and Buckley also break down options ideas for

EnerSys

(ENS) - Get Report

and

InterDigital

(IDCC) - Get Report

.

To watch the video, click the player below:

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Plus, don't miss these recent options strategies on

TheStreet.com TV:

Mad About Options: Unload Microsoft

(Jul. 31),

Mad About Options: Peak Oil Favors Chesapeake

(Jul. 30) and

Mad About Options: Qualcomm's 3G Victory

(Jul. 29).

For more information about Mad About Options, visit

www.ONN.tv

.

From

Dykstra: Look for Low Forward P/E's!

:

I'm looking for low

forward P/E ratios

. The reason: I don't want a stock that is built up on overconfidence. I want a stock that is undervalued, and has been unfairly beaten up by Wall Street's operators.

Let's look at some recent examples.

American Express

(AXP) - Get Report

is my most recent win. This was my pick last Friday, July 25. I went with the January $20 deep-

in-the-money

calls

(AXPAE). American Express crossed the finish line yesterday

Jul. 30 for a $1,100 victory.

When I looked at all the data for this company, I noticed that it had a forward P/E ratio of 11.7 at the time I picked it. Today

Jul. 31, it has a forward P/E ratio of 12.1, because the price of the

common stock

has gone up.

Read the full article.

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From

Dykstra: Time Is on My Side

:

In my column last Thursday, I wrote about the satisfaction I get when my picks turn in wins after being down significantly. I specifically pointed to

Citigroup

(C) - Get Report

,

Morgan Stanley

(MS) - Get Report

and

AIG

(AIG) - Get Report

.

For Citigroup, I went with Jan $20.00 DITM

deep-in-the-money calls (CAD) and once all the re-buys were factored in, I ended up with 70 contracts. I also had 70 contracts with my AIG play -- I picked the Jan $25.00 calls (AIGAE). For Morgan Stanley I went with the Jan $30.00 calls (MSAF) and totaled 140 contracts.

Combined, these three pulled in $27,860 in winnings for me.

Read the full article.

From

Dykstra: Join the Big Leagues

(Video):

Lenny Dykstra:

"If you follow the model, you'll win. So the model is, you buy a deep-in-the-money call -- go out seven to eight months and we buy time. And what we're doing is, we're waiting for our move to go our way... So a stock moves our way, we close out... More than anything, do not go on

margin

. If you go on margin, you're cooked."

To watch the video, click the player below:

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For more information, about Dykstra's

Nails on the Numbers

premium service,

click here

.

To stay up to date on options, bookmark and visit

TheStreet.com's

Options/Futures section

.

This article was written by a staff member of TheStreet.com.