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To: Alex Raytselsky who wrote (4505)	12/23/1997 5:00:00 PM
From: hpeace	Read Replies (2) of 4749

in this market you do not sell a naked put.. you have to have a put to back up the put you sell.... I'm not saying this would happen. but, a little more SEA disaster and cpq could fall to 50,40,34,22..... you need to allow for this. not that this would effect cpq the compnay at all. but, it could cause the analyst to spook... analsyt spook easier than a bunch of naked chickens break dancing in front of foxes.

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