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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: EnricoPalazzo who wrote (212)4/25/2001 12:51:27 AM
From: BDR  Read Replies (1) of 5205
 
<< covered puts>>

The only time a put sale is covered is when the seller is also long a corresponding put with the same or higher strike, that is, a put spread (McMillan, p. 281). I can't help you much with spreads. I have never done them.

For margin purposes selling a put when you are also short the stock is also considered a covered put. I have done this to pick up some cash while waiting what seemed like forever for the stock of a sick company (ZONA) to die but otherwise have limited experience.
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