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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Cogito Ergo Sum who wrote (37063)8/9/2003 7:32:40 PM
From: Seeker of Truth  Read Replies (1) of 74559
 
You are not confused. Jay says that he is shorting puts. He means that he is selling the puts. He is getting paid for, let us say, being willing to buy NEM at 35 during a certain time period. If the puts are exercised by the buyer, reducing Jay's cash position, Jay can either sell calls or simply happily hold the stock. The point is always to be on the sell side of both puts and calls. That way time is always on your side.
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