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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Marc Hyman who wrote (37566)	3/4/1998 11:19:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

Now last year as the price kept going down I made quite a bit writing calls. Had I wrote puts I'd be out a lot of cash, but would have more shares. Marc, You would close your naked puts rather than taking assignment. You would not have more shares. You would have taken a loss on the puts the same as having a covered call. You would still have kept the put premium the same as you kept the call premium. There still is no difference except you would not have your capital tied up in the stock. A covered call is a synthetic naked put. There is no difference comparing to reward. Glenn