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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: KFE who wrote (620)	2/21/1999 10:16:00 PM
From: ron delany	Read Replies (1) \| Respond to of 2317

ken i'd be selling the middle strike. also i'm already long the 125's at a basis of 6 so would be essentially legging into the butterfly for a guaranteed profit of 4 as an alternative to outright sale for +5pts or spread against the 135's or 140's for whatever. Really I'm just looking for a way to lock in the profit. This would cost only 1 point (probably) and would make sense in a decline maybe. Does it make sense to leg into butterfly to protect profits. I guess that's the question.