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To: donald sew who wrote (42343)5/6/1998 9:36:00 AM
From: Darth Trader  Read Replies (2) | Respond to of 58727
 
OEX 540 puts and sell the 530 puts, since its the first time I did it

Given the rich premium it seems quite prudent. What is the underlying security value in order to figure margin required? 1 contract = $54,000? My broker requires 30% margin for writing naked.



To: donald sew who wrote (42343)5/6/1998 9:36:00 AM
From: Patrick Slevin  Read Replies (1) | Respond to of 58727
 
One approach of course would be to leg out of the 530 position.

Or just trading them.....buying them in on rallies, selling them back off on dips.

Just a thought....depends on how quickly you can pull off the trade.