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To: taxman who wrote (129785)5/28/1999 10:31:00 PM
From: Tom K.  Respond to of 176387
 
the rate of absolute point decline in the put decelerates.

Correct, that's why you close and roll up (still OTM). Less risk then owning stock long and don't forfeit the upside.... but of course you have to still be willing to take the issue at the rising price.... if it drops and you don't want it, roll the PUT out and down... more premiums.

Tom