"All Cats Are Gray" is narrated in the first person. The narrator is only distantly acquainted with Steena—"Steena of the Spaceways" he calls her—having seen her only in "stellar-port dive[s] frequented by free spacers." It appears that that the narrator is an author who has written a work titled "Stellar-Vedo spreads". S/he affects a tough-guy image and implies that s/he has written second-rate thrillers. The narrative style is honest, making distinctions between the events witnessed directly by the narrator and the ones that have been reconstructed from accounts told by free spacers.

According to the narrator, Steena "was as colorless as a lunar planet—even the hair netted down to her skull had a sort of grayish cast, and I never saw her but once draped in anything but a shapeless and baggy gray spaceall." This...