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To: 100cfm who wrote (48390)	11/7/1999 9:41:00 PM
From: DaveMG	Respond to of 152472

cfm.. I'm not an options expert either which you'll probably think is ridiculous under the circumstances but so be it. I don't see myself as an insurance dealer so if I was worried I'd just buy puts, enough puts to make me feel comfortable, short term, in this case the Novs, out of the money so they'd be reltively cheap but would pack the requisite punch if the stock really tanked which is what a holder of 3000 or 30000 shares would be worried about. I'd know what I have protection for and exactly what it costs, and no it wouldn't be free. Having 95k less of a loss to use your example would not be a good thing on a portfolio of 3 mil if the thing really tanked ( assuming of course one is playing this insurance game to begin with). Voltaire gave up on upside and really wasn't protected, which might be what he was looking for. Kincade I'm sure can provide you with more sophisticated strategies that may or may not work better. DMG