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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (29305)	4/26/2000 12:08:00 PM
From: Zach E.	Read Replies (1) \| Respond to of 42523

Jorj, I think that there is a distinction to be made between opening a buy/write position simultaneously (which is equivalent to selling puts), and "legging in" to the call sale, which is more along the lines of what you are talking about. The former is mildly bullish, while the latter could be short-term bearish, although if you are really confident that the stock is going to drop, it might be worth completing the hedge by using the proceeds from the call sale to buy puts as well.. Zach