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To: kanford who wrote (832)	7/13/1999 6:59:00 PM
From: Steve Landrum	Respond to of 1906

Congratulations, There is still a slight time premium w/the july70's. The bid is 2 5/8 vs the common bid 72 1/4, time prem is approx 3/8. This prem. will converge to zero by Fri. If you are happy with your gains and don't want to risk a pullback, I would sell as soon as possible. If you think the upside potential outweighs the shrinking time premium and risk of pullback, hold on a little longer. The only other thing I can think of is when you sell, don't put in a market order because you are guaranteed to get the lowest price possible. My experience has been to split the bid/ask with a limit order, and the buy/sell usually happens in a reasonable time. If you are antsy, lean the sell order closer to the bid. These are just my opinions, good luck. Steve

To: kanford who wrote (832)	7/13/1999 9:33:00 PM
From: Jonathan Feins	Read Replies (1) \| Respond to of 1906

Instead of selling the options, short the stock during a spike (hopefully 73 or higher). This gives you a profit plus a free put option should something out of the ordinary happen (expiration selloff). If stock drops you can sell the 70 put. At expiration either the 70 put is in the money and the stock you shorted pairs off with the put or if stock is above 70 the stock pairs off with the call. Although you give up a small amount of premium by not selling the options outright, you could get lucky if there is an overall market selloff in the next couple days. Please email me if you would like a further explanation. Jon proclm@tds.net P.S. I am a former options trader/broker on floor of AMEX