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Non-Tech : Waterhouse Securities
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To: upanddown who wrote (702)9/18/1998 9:15:00 PM
From: John M. Hammer  Read Replies (1) of 2076
 
John and Thean,

This isn't the thread for it, so I am not going to explain in detail how cash-backed naked puts (selling puts while keeping in reserve an amount of cash equal to that needed to satisfy an exercise) are essentially the same as covered calls (selling calls against a long stock position). Please see one of McMillan's books or check out one of the option threads here on SI.

Best wishes,
John
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