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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (33725)	10/10/1998 3:53:00 PM
From: Bat5454	Read Replies (1) \| Respond to of 132070

Michael - Excellent explanation - thanks very much!! In this type of trade, it almost seems like it doesn't matter a lot what the stock is that you're holding, since it'll probably either be called away (if over 60), or you'll excercise the puts if under 50. True? Thanks Bruce Taylor

To: Knighty Tin who wrote (33725)	10/10/1998 9:41:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

mike, what if you bought the lu and the calls and the stock went down before legging in?

To: Knighty Tin who wrote (33725)	10/11/1998 5:15:00 PM
From: Judy	Read Replies (1) \| Respond to of 132070

Mike, To do a synthetic short put on LU about strike 60, you must be quite confident the stock will fall precipitously. Why 2001 rather than 2000 leaps and what is your downside target? On second examination, it looks that you may have managed to create something similar to a synthetic short stock position in an IRA account with long puts at a lower strike than the short calls.