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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Todd Reichardt who wrote (58084)	4/29/1999 12:33:00 PM
From: Knighty Tin	Respond to of 132070

Todd, the parts you are missing is that I am not playing one for one and I am also trading the spread market and not the individual options by themselves, as I do it at the same time. So, I am buying fewer of the June 50s. I have taken nearly 5 points of profit off the table and still have a position. An alternative would have been to sell only the part of my position that represents profit, but I end up with a few more long puts this way. Also, I prefer to get those Mays out in time. The extra month may sound small, but I am more than doubling my time for a workout. MB