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To: KeepItSimple who wrote (87720)	12/16/1999 4:09:00 PM
From: craig crawford	Read Replies (2) \| Respond to of 164684

Huh? I'm obviously not shorting MSFT calls. You'd have to be a total idiot to do that. Puts aren't trading @ 13 1/2. I bought Dec 100's @ avg of 1 1/16. I sold 1/2 of them a couple of days ago @ 2 1/4 and rolled into Jan 110's. Let the other half ride and just sold them @ 13 1/2. Capiche? Haven't sold a single January call yet and who knows maybe MSFT opens up another 5 tomorrow. I don't want the stress of having to babysit them on expiration. I won't chase it if it does, but if it gets about 5 points of profit taking and the bonds dont collapse I will roll the proceeds into Jan 120 or maybe even 130's. P.S. If you guys want to avoid the confusion, just say you are writing or shorting calls. That means you are bearish. If you are just selling some call options to close that you purchased, just say you are selling your calls.