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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (2840)	11/10/1997 8:42:00 PM
From: Snowshoe	Read Replies (2) \| Respond to of 95453

Mike, I sometimes use the strategy you describe, although I call this a "naked put". My understanding of a "covered put" is a put written against stock one has shorted, analagous to a "covered call" written against stock that one owns. In this instance I am using my IRA account so I can't short a put, but I could do nearly the equivalent by buying the stock and writing a call against it. With either strategy I would want to wait for the stock to drop so I could get a higher option premium. Good luck with your rig!