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To: John Graybill who wrote (50408)	1/25/2000 2:52:00 PM
From: Michael Bakunin	Read Replies (1) \| Respond to of 53903

Our hero, Rick Whittington. Strong buy to buy, based on the continued, er, softness in DRAM pricing. -mb

To: John Graybill who wrote (50408)	1/25/2000 5:46:00 PM
From: Land_Lubber	Read Replies (1) \| Respond to of 53903

Have you been watching the implied volatility on the MU options? They jacked it way up late last week (for the Jan expiry) and let the air out yesterday and today. I know you have commented on this before. Maybe that's a low risk trade: short the next month's out-of-the-money options (both puts and calls) just before this month's expiry and buy them back a couple of days after expiry. For example, on Thursday afternoon, you could have sold a short combination in MU Feb 70 calls and 65 puts, getting 7.25 and 4.0 respectively (total 11.25). Today you could have bought them back for 5.00 and 3.75 (respectively, total 8.75) before the plunge, or 3 and 5.5 after (total 8.5). Margin requirements would have been about 10.00, so that is about 30% profit in four days with almost no risk. Anyone done this already? S.M. Saifee, have you tried it? What are your broker's margin requirements for naked option writing (sorry to change the subject abrubtly). Land_Lubber