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To: Knighty Tin who wrote (259937)	9/11/2003 12:29:29 PM
From: Oblomov	Read Replies (1) \| Respond to of 436258

>>You don't make those with bad habits pay more the same way you don't make those who are not veterans pay more in income taxes and those who have gas guzzling cars pay more in road taxes. But, I think we should. Anyway, in Indiana the road tax collected via vehicle registration has the the size of the vehicle as a part of the calculation.

To: Knighty Tin who wrote (259937)	9/11/2003 12:41:05 PM
From: mishedlo	Respond to of 436258

Bear Calendar Spread Long Mar 975 SPX put Short Dec 975 SPX put Total cost 16 points ($1600) Maximum Risk $1600 Maximum gain unlimited but not until after Dec expiry This is a trade I can sleep with easily. I am hoping to make $5K but we will see. I picked up something like 26 points for the short DEC 975. If we fall but not below 975 I pocket the 26 points ($2600) and still own the Mar 975. It takes a fall below (975-26) lets's say 950 before I lose additional profits as opposed to a straight purchase of the spoos put (that would risk $4200 or so) Note the Mar 975 will decay but the Dec put will decay much faster. This play is essentially a bet that the market goes down, stays sideways, or only rises a little from here asof the DEC close. I am in it and holding no matter what until close to DEC expiry. M