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I have not seen this before most likely because I was not looking.
But this week I was checking out price discrepancies between Calls
and underlying price of stock.
I found Citigroup [C] traded around $33.90 and the Mar. Call with a
strike price of $15 had a bid of $20.90.[makes my cost $33.90-
$20.90=$13. I sold the Call first and then bought the stock. The net
effect is that if C does not tumble from $33 to under $15 in 10 days,
I will effectively make $2 per share when I am called out on 3/21/03.
Just thought I would share this technique with you. If the option
were further out, I do not think I would have done it.
John
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