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Technology Stocks : juno.com (JWEB)----IPO -- Ignore unavailable to you. Want to Upgrade?

To: Lucky888 who wrote (456)	12/30/1999 11:09:00 PM
From: allen menglin chen	Read Replies (1) \| Respond to of 510

I bought Jan 40 calls @ 5 7/8 when this dog made a dead cat bounce from 38 to 52. When it settle @ 47, I bought puts. At that time, vol is high, so even Junk Web moves from 47 to 34 now, the bid for my puts today is 8 1/2. I'm planning to close my put position when JWEB hit ~30 Fri or next week (my put probably = 10 by that time). Is that a good idea? Or I should keep my position and wait for this dog drift to mid 20s by Jan 21. The tough question is I'm losing time premium in exchange to some slow pts. I expect another dead cat bounce b4 it hits 25 in 10 days. Actully, I might keep it until Mon for tax reason, and my friend's account has too many longs, and needs a Y2K hedge. Any suggestions are welcome. Thanks. P.S. Lucky has no concerns, since he sold calls, time is on his side!