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To: PAL who wrote (6039)	4/5/2000 12:19:00 AM
From: taxman	Read Replies (1) \| Respond to of 8096

"I cannot disagree with you more." ok. we disagree. regards

To: PAL who wrote (6039)	4/6/2000 11:11:00 AM
From: SecularBull	Read Replies (2) \| Respond to of 8096

You are sadly mistaken when you claim that selling puts is equivalent to buying calls. The risk of buying a call is finite at the time of the transaction. The risk of selling a put is variable, and can be severe if the market moves in the wrong direction. A fully leveraged account that was full of short put positions on Tuesday morning would've received margin calls out the wazoo. I know that your retort is that one shouldn't be that leveraged, but you do not make that clear in such a generalized statement as "selling puts is equivalent to buying calls". Buying calls does not burden margin like selling puts does. In a fast moving market to the downside, repair is not always a guaranteed option. I'm not picking a fight with you, but I would like to see you accurately refute my position or agree with me that buying calls is not equivalent to selling puts. TIA Regards, LoF