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To: Voltaire who wrote (494)	1/2/2000 11:23:00 AM
From: Jill	Respond to of 8096

Glad to see your post Voltaire. Was wondering what you'd think of this discussion. From what I can tell you don't sell puts to create synthetic longs, but you clearly see the huge benefit of buying calls or leaps on pullbacks, and later selling and rolling up and out on runups. I'm not very good at the #'s but as I said, considering farfel's post about one 2001 leap for $13000 a few weeks ago, being worth $290,000 in a year if QCOM did half as well (and now that it's in the public eye--why not? They may split 4-1 again next year), it seems better to play this unique situaton that way. On the other hand, taxman's approach is very efficient because he must pay very tiny amounts of taxes! For all who are concerned about taxes, here's a good thread: Subject 17266 It's been on the hot list lately! :-)