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To: edamo who wrote (111840)3/24/1999 10:04:00 PM
From: Jeffry K. Smith  Read Replies (2) | Respond to of 176387
 
EDAMO - pardon me for not responding to the right message, but in the scenario you described, the selling of a long term 85 PUT, and the purchase of additional shares at the current price - why is it better (or is it not) than for instance, selling the l.t. 95 put and buying the 90 put?

I just approached my broker about becoming approved to try your strategy and was told that the situation I described above was less risky, and could be done with my current level 2 approval.

Thanks again,
Jeff Smith