SPDR S&P 500 (SPY)

[Neutral Man]

FOOT-ster... You are correct but imagine buying puts at the Open, selling-em below 42.86, and buying Mar44 calls for, well, .79, Now dat'd be COOL, opps, we did dat now didn't we and posted-em in real time, LOL!?

Yes, you can trade options in your 401k but you can ONLY buy puts and calls with write covered calls! You can't do all this Selling puts and calls without having the underlying stock in your possession!

Unlike an E-trade account that'll let you sell-em naked (NOT ADVISED unless you Bee ME), and sell-em against an open position!

Our Mar47 puts sold short are actually banked against our Mar41 puts we own. Therefore we're only "locked up" on the difference between 47 and 41 (47 - 41 = 6.00 points but since we sold for 3.00 it cost us only 3.00 in debits or about $-24k to control 8k shares, COOL)!

Btw... that was NOT short covering dat was da-Boyz BUY up any and ALL asking prices! When the Shorts COVER you'll know it because we'll go UP 4.0% in ONE DAY!

Warm regards,
nm