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To: Amy J who wrote (180428)	3/16/2005 8:16:49 AM
From: GVTucker	Read Replies (2) \| Respond to of 186894

Amy, RE: Put selling (assumed you meant strike < market) is more bearish than just writing OTM covered calls. So I am probably more bullish than you in style Put selling is bullish, not bearish. Writing covered calls is actually bearish. (You're reducing the risk of holding the stock.) I think selling puts is a good idea if you're more conservative (which I'm not) because it's a strategy that requires cash-on-the-side, not in the market - cash that is not put to work. Not always. There are plenty of people that sell puts that will margin existing stock if those puts happen to get exercised. In this case, it doesn't require cash on the side. Granted, I'm not recommending that to you, but there are plenty of people that are heavy risk takers that selling naked puts.

To: Amy J who wrote (180428)	3/16/2005 10:20:36 AM
From: Elmer Phud	Read Replies (2) \| Respond to of 186894

Amy I think selling puts is a good idea if you're more conservative (which I'm not) because it's a strategy that requires cash-on-the-side, not in the market - cash that is not put to work. It doesn't require cash, it requires margin which doesn't have to be cash. Try a different perspective: I do not sell Puts with the intention of purchasing shares (although I am prepared to do so). I'm in it for the premium. It works in a bullish, flat or bearish market meaning the share price can drop as long as it doesn't drop below the strike price, at which point I usually roll the Put out and down. By writing both an OTM CC and an OTM Put I am assured that at least one will expire worthless and likely both. You shouldn't look at it as bearish, it's bullish to sell puts. But if the stock drops, I can collect premiums on the way down as I buy the CCs back and rewrite at a lower strike price. Why buy them back? "It's the margin stupid". (Not you of course).