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Strategies & Market Trends : The picks

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To: steve susko who wrote (1011)	1/4/1997 5:15:00 AM
From: Shawn Murphy	of 6124

Steve, I own quite a few shares of PRGS around 4,000 or so. My avg.... price is $16.50, so even if I get called away at 22.5 I still make some $$$ and I get a good premium on the Feb. calls. I will just buy puts so I can sell them at a higher price if the stock starts to fall back. I usually sell long term calls and buy short term puts, that way the premium I pay for the puts is a very little compared to the premium I receive from selling the call. HOWEVER, I will NOT do anything until next Friday, Jan. 10. I do believe that there may be a good chance that "news" may be released this week.

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