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To: re3 who wrote (55441)	8/8/1999 2:15:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

Ike, my experience is the DJX puts in particular require a relatively large and quick decline in the Dow to be profitable. it's largely a matter of timing therefore to trade these things profitably, but it's certainly not impossible, just difficult. an alternative approach is to buy puts on a range of individual stocks, as individual issues tend to make stronger moves than the indices, which smooth out the moves in the underlying stocks as not all index components move in the same direction normally. if you buy puts on say five stocks that look weak, it is usually good enough if only 2 of those are huge winners to make a decent profit overall. hb