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Technology Stocks : Dell Technologies Inc.

DELL 117.31

+2.3%

3:59 PM EST

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To: Jill who wrote (117564)	4/14/1999 5:27:00 PM
From: BGR	Read Replies (1) of 176388

Jill, Treat them as two different trades. One has the risk-reward profile of a naked long. The other a more conservative risk-reward portfolio, that of a cash-backed put sale. Together, the average risk-reward portfolio is more conservative than that of a naked long position. However, selling puts and buying calls at the same strike has the same profile as a naked long initiated at the strike price. -BGR.

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