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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Tom K. who wrote (11564)	9/20/1999 8:13:00 PM
From: Amit Raj	Read Replies (1) \| Respond to of 14162

Tom, can you please name some brokerage firms which allow selling necked puts. Currently I am using Dreyfus brokerage and I think they do not allow trading necked puts and calls, at least in my account. Amit

To: Tom K. who wrote (11564)	9/21/1999 8:30:00 PM
From: Herm	Read Replies (1) \| Respond to of 14162

Factor in that you already are long with more existing shares with a much lower net cost basis (nut) by capital appreciation and CCing and you could still have some PUT to you and it would average down some more to soften the bite. Of course, the next round of CCs would yield even more income from the new shares acquired. Too bad, it would not work in most IRA's. Do you limit the amount of PUTs you write to a certain number of contracts or by some percentage of dollar value? Thanks Tom!