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Strategies & Market Trends : Advanced Option Strategies -- Ignore unavailable to you. Want to Upgrade?

To: Greg Higgins who wrote (10)	6/30/1998 9:10:00 PM
From: Joe Waynick	Read Replies (2) \| Respond to of 355

>>>I like to discuss, not preach. (Of course, some people think my discussing is preaching.)<<< I've read your posts on other threads. Preaching is okay when done with knowledge. I like the idea of an advanced options forum. I've been doing CC's and naked PUT's for about 18 months, with good results. Not great, but good. However, those are basic strategies, and I'm looking to learn something a little more sophisticated. For example, I'm experimenting with a "leg in" approach to Bull Put Spreads. After reading your initial post about "Systematic Writing," I got the idea of using that approach to protect my BPS setup. I'm also trying to understand what Herman Matos calls "Recovery Spreads" and "selling covered calls on LEAPS." I don't think McMillan writes of such strategies. I think those are terms Herman coined. I not quite sure how recovery spreads work, but selling CC's on LEAPS can't be anything more than setting up calendar spreads. Is this correct? Can you explain recovery spreads? Thanks for your insight!