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Biotech / Medical : Gliatech (GLIA) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (612)	2/10/1999 11:01:00 PM
From: Mike	Respond to of 2001

Earnings are to be announced on Thurs Feb 11 at 8:00 AM. I was reminded by a poster on the Yahoo board (Spyros) that the reaction to last qtrs earnings were delayed. Lets hope for the best but if we see a downer with everything looking good- buy more. Good luck to all, Mike

To: scaram(o)uche who wrote (612)	2/10/1999 11:04:00 PM
From: Biomaven	Respond to of 2001

Rick, Writing (=shorting) a put is essentially the same as writing a covered call - i.e. owning the stock and writing a call against it. You have limited upside (in this example $8), but less risk than owning the stock outright. You only get to keep the full $8 if the stock ends up above $30 - if the stock ends up at $25, you keep $3; at $22 you break even; below that you lose. There's a basic equation that lets you figure out the equivalences: Long the stock = buying a call and writing a put L = +C-P [think + for buying and - for writing (selling) ] You can just treat this like an algebraic equation, so: -L = +P-C [shorting the stock = buying a put and writing a call] and the current example: -P = L-C [writing a put = buying the stock and writing a call] Trust me, its easier than immunology <G>. Peter