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To: Jeff O'Brien who wrote (908)	2/21/1997 10:44:00 PM
From: hpeace	of 4749

Jeff, the strategy you recco'ed is for normal stks in a normal market. We are in dangerous times and the pc industry will be in pressure for a while. If IOM disaapoints the stk could fall to 10. Under that kind of pressure it's better to plan ahead and get the upstrike call. then as the stk rises on antiscipation of earnings you sell the stk at 19. then let the option you gtt real cheap carry you ahead. It cost you 1/4 so that is nil. Does this make sense now. the upstrike call carries you up and the stk at 19 is your profit. if it falls then buy it back. your gain is more or the same and your risk is nil.

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