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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (1410)	6/18/1999 2:18:00 PM
From: Bill Wexler	Respond to of 10293

For those of you playing our VLNC-fraud home game.... The VLNC September 7 1/2 puts are currently bidding 1 15/16 with the stock bidding 6 1/2. For those of you that took my advice to short at 7 1/2 and above and would like to hedge at this point I would recommend selling these puts against your short position. This will protect nicely against any hype-induced runups to near the top of the stock's recent trading range, and provide a good return (after subtracting the in-the money portion, you get an additional 15% for 3 months or 60% annualized) should the stock remain relatively flat.