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Technology Stocks : Intel Corporation (INTC)
INTC 48.80+5.0%Feb 2 3:59 PM EST

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To: Ibexx who wrote (26920)7/17/1997 4:57:00 PM
From: W. Clinton Terry   of 186894
 
Please excuse my ignorance on these matters. Could you please explain what "against the box" means. Does the box refer to shares you own? Is this then a strategy of writing options? An example would help a lot. If this is a strategy where you own the stock...are you then opening a LEAP put (shorting against the box)?.... in which case you would open the put at a certain strike price and if the stock goes down you sell to close the position, pocket the money and buy more shares at the lower price. I have the feeling however that you are talking about something else. Perhaps you could refer me to some chapter in a book explaining this strategy in the language that you use.

Thanks.

Clinton
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