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Strategies & Market Trends : The Player's Club

SPY 683.39

+0.5%

Nov 28 4:00 PM EST

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To: John Pitera who wrote (5503)	2/9/2000 3:04:00 PM
From: GROUND ZERO™	Read Replies (2) of 11513

John, Yes, that's correct... but, I would probably short the June 1450 put instead since there's about 17K premium left in it... if we ever returned to this level at a later date, before June, then I could short the contract and hold a covered put and still take the premiums.. but, more than likely, if we had a decent rally, that put would dry up and we would just pocket the 17K for very little effort..... I see no reason we couldn't do four of them, each put requiring only half the margin of the contract..... that comes to 68K for that trade..... GZ

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