Shorting SPY for fun and profit. Message Board

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Strategies & Market Trends : Shorting SPY for fun and profit.

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To: studdog who wrote ()	11/8/1997 4:55:00 PM
From: vegetarian	Read Replies (1) of 346

Very informative thread. Can someone suggest when one would use SPY as against using OEX, SPX, DJX in both up and down markets? I am interested in understanding tradeoffs of using one vs the other. Looks like if you short SPY around dividend time, you will be paying part of 1.5% dividend to the original holder, any idea when the Quarterly dividends are paid out? Somone on Kahuna thread suggestd buying DJXUJ (Sep98, 88 puts) at now 12 5/8 as a hedge which sounds like a pretty good hedge; how would it compare against shorting SPY for example? Also, I suppose there is some possibility the broker can make you cover an SPY short in case they need the shares for whatever reason. Any comments welcome, thanks.

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