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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (23107)	8/3/1998 3:34:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Bob; You appear to know what it is your saying but your terms have lost me. Re Bear spread on the SPX, long Aug 1170, short Aug 1120 puts, net cost approx. 31 points right now. Intrinsic value at current levels or anything below 1120 is 50 points for a 61% gain in a flat or down market to Aug 21. Still profitable up to 1139 (before commissions). For me to understand this you would have to brake it down some, ( I don't think I can short options ) if you are alluding to that. Also I don't see the intrinsic value ? Jim