how to cash out deep-in-money eto options?, page-7

Thanks 600sl, I'll look at exercise + buyback routes. Expiry is still a while off yet, so I'm not desperate to sell at market maker prices (which essentially assign the option no time value and a discount to the intrinsic value).

Mike,

I'm not smart enough to trade the SPI, however if you are worried about declining prices on your stocks, it's a simple matter of buying the relevant number of put contracts to cover your holding.