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To: London Brian who wrote (6104)4/6/2000 11:58:00 AM
From: PAL  Respond to of 8096
 
it is --- (25% * stock$) + (premium - otm amount):

specifically:

(25%*current stock price) + (Current premium) - OTM amount

OTM amount = the difference between current price and strike price. For put this value is positive.

Paul