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Politics : Ask Michael Burke
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To: accountclosed who wrote (37918)12/2/1998 10:51:00 AM
From: Knighty Tin  Read Replies (2) of 132070
 
AR, Calls, puts, all a matter of opinion. <G> You are right. I meant puts.

You have to remember that it was late when I wrote this. Let me just say what I meant and I will let you sort it out. The short put and hold cash is the same as a buy and write on a stock. So, if I am short a put at $50, and I want a credit spread rather than a short put position, I would add the long put quickly at $45 or $40. This is the same strategy as doing a buy write, then adding the long put below the call strike price for a spread conversion, which is how I do the trade in my IRA.

MB
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