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To: Tommaso who wrote (169336)5/31/2002 2:11:34 PM
From: brightness00  Respond to of 436258
 
> What on earth is the advantage in doing that?

Capturing the time premium. Time premium evaporates very quickly when at-the-money puts become deeply in-the-money. I often use put writing to scale out of shorts and into longs gradually, just like covered call writing in the bull market of the past.