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To: Terry Whitman who wrote (51156)	7/11/1999 4:33:00 PM
From: Haim R. Branisteanu	Respond to of 86076

To All - Option play from the Chicken Page. bway.net - Trading Ideas Constructive remarks are welcomed Synthetic Stock Future Buy, close to the money July puts, sell to open close to the money July calls.Partial hedge sell the next lower strike put, Example on SUNW - stock at 72 15/16 Buy to open SUQSA for 1 5/8 Sell to open SUQGO for 7/8 (debit 3/4) Sell to open SUQSN for 3/4 credit 3/4 (July 70 puts) Total capital at risk - 3 transaction commissions of $75 Profit potential - $375 per set at 5 contract sets $ 1875 -$75= 1800, is stock closes at or below $70. Risk to end up short SUNW at 75 - you can buy 77 1/2 calls to limit you loss but hurt profit Haim