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To: ChanceIs who wrote (199095)	4/30/2009 9:01:45 AM
From: dealmakr	Respond to of 306849

Hi Chancels, Cash covered puts are considered naked puts as there isn't any offsetting stock position, you just must have the cash or other marginable collateral in your account to write them. It is a neutral to bullish strategy on the direction of the underlying. "If you buy the put, you are taking a bearish position as opposed to the cash covered put where you are long. All you can loose by being long the put is the premium you paid." The above is correct, but remember that in buying premium, timing & correct strike price entry are everything as options are a wasting asset. For anyone interested in learning more about options, the OIC website is a great resource. 888options.com regards, dealmakr