rio up in us and london, page-20

re: rio up in us and london ... to rembrant et al Cloudstreet, you will buy your put back prior to 27th and roll to june 34.50 your net credit will be approximately 25c. try not to leave it to the last day as you may not receive a credit, don't forget you still have the inital premium in your account. If rio falls and you are exercised your broker will "wash through" the shares your cost approx 50.00. you then rewrite the same position or go one month out for additional premium.There is an asx fact that 85% of written eto's expire worthless. I hold rio 34.50 puts. Don't take this as a recommendation it is just giving you something to think about, there are some very good books on eto strategies
Ken