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Ok, I've really learned a lot so far regarding synthetic longs and strangles. I've purchased the following recommendations so far:

1. The Ford (F) synthetic long at 10 (3 contracts)
2. The Waste Management (WM) strangle.

There is the potential that I would be assigned the puts and have to buy at the strike. Therefore, I am keeping $3000 for Ford and $3400 for WM as cash so that I can cover the assignment. Is that right? If I don't keep enough cash, then I'll be borrowing on margin upon assignment.

So, with all these really neat strategies coming along, the put-writing is causing me to allocate a greater and greater proportion of my portfolio to cash (which is paying at 0.01% interest). The Intel put at $24 looks interesting, but there again, another $2400 cash to put aside.

Am I thinking about this correctly?

I appreciate any help you can give.
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