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To: Robert T. Quasius who wrote (57568)	12/29/1999 7:29:00 PM
From: ItsAllCyclical	Respond to of 95453

(OT) Robert, I agree in general on options, but I'm buying in-the-money options on PXD. Too many people make the mistake of buying solely out-of-the money options and that distorts the statistics imho. If I'm going to make a large options bet (and I am on PXD and VPI) - I always try to buy in-the-money options to reduce my risk. As for expiration 99% of the time I sell before so I get some time premium and I lessen my risk substantially. Often I sell the bulk of my options 3-7 days later if I get the spike I was expecting. Since I trade so much I often cannot hold the underlying shares long enough to make decent money selling puts. I'm definately still learning when it comes to options though. Have I been lucky of late or am I good...only time will tell.