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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?


To: RockyBalboa who wrote (4089)12/30/1998 6:35:00 PM
From: chester lee  Respond to of 4634
 
Christian,

You misunderstood.

I was short ZONA, and wrote the puts as a hedge. I wrote a covered put, the opposite of writing a cover call.

When ZONA fell below my strike price, I had to take delivery (be putted to) and take possession of ZONA at 17-1/2, which flattened my short position.

chester