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Politics : Ask Michael Burke

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To: accountclosed who wrote (35681)	11/9/1998 6:54:00 PM
From: Knighty Tin	Read Replies (5) of 132070

AR, It is like if I am short a put and long another one in a spread. With an index, I have to settle both trades for cash. With an individual option, I can settle the long in cash and take delivery of the stock on the short. Or, I can short stock to close the long put and settle in cash on the short side. There are times when these are appealing options. However, the fact that they exist keeps the options prices more honest, which is their main contribution. MB

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