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To: travelman who wrote (2633)10/31/1997 2:03:00 PM
From: SJS  Respond to of 95453
 
Another interesting option strategy would be to SELL 5 FGII NOV 40 PUTS (at about 4 or so), and SELL 5 FGII NOV 40 CALLS (also about 4 or so).

You take in a premium of 8, and have breakeven at 32 on the downside, or 48 on the upside.

The high premium in these options show high volatility, so this particuular straddle would NOT be for the faint of heart.