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To: Elmer Phud who wrote (180431)	3/16/2005 10:56:21 AM
From: GVTucker	Respond to of 186894

ephud, RE: By writing both an OTM CC and an OTM Put I am assured that at least one will expire worthless and likely both. Believe it or not, I've seen people get exercised on both sides of that trade before. It's pretty rare, granted, but it isn't impossible.

To: Elmer Phud who wrote (180431)	3/17/2005 1:14:58 AM
From: Amy J	Read Replies (2) \| Respond to of 186894

Elmer, RE: "It doesn't require cash, it requires margin which doesn't have to be cash." True, but am pretty stubborn (fixed) about not using margin, so it would mean reserving more cash on the side than desired. RE: "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." What you're doing is pretty bullish. RE: " 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." I definitely see what you're doing. It's bullish. RE: " Why buy them back?" Because I'm rolling it out and down. Did you see this? "Santa Cruz Median House Price $720,000 30.9% YOY" mercurynews.com Nice bubble and devaluation of dollar. Regards, Amy J