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To: GVTucker who wrote (104244)	2/23/1999 2:20:00 PM
From: edamo	Read Replies (1) \| Respond to of 176387

re:synthetic long gv...you missed a salient point in pal response to me...he didn't buy both sides...hence no two commissions,he sold put,cash in, went long call...cash out with OPM ...taking a long position in an uptrend for naught never harmed anyone..best regards, ed a.

To: GVTucker who wrote (104244)	2/23/1999 11:03:00 PM
From: PAL	Respond to of 176387

Just got back this evening. I believe Edamo has explained well of using OPM (Other People's Money) to control shares of a dynamic stock like CSCO, DELL, MSFT, etc. They beauty is that by selling LEAP puts, you get money in the account, use that money to buy LEAP calls, there is no margin interest to be paid even for a period of up to almost 2 years!! And you participate in the appreciation of the stock without even owning it. Of course there is a risk: If the stock goes south and keep going you get a double whammy: your call (long) will become worthless, and the put which you are short can skyrocket (although there is a loss limit as compared to an unlimited risk for an outright shorting the stock). Hope that helps. Paul