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To: Jill who wrote (3156)	2/17/2000 8:48:00 PM
From: steve mamus	Read Replies (2) \| Respond to of 8096

Jill, It's a head thing. I am not patient enough with buying calls and simply put I like it when people give me money. I wish it was more complicated then that. I view selling puts as generating alot of free cash flow and better then borrowing on margin or on a credit line. GLW - I have the sense that we have just started, I added more of the common today. It is a safe long term play in my opinion. At this point I feel more comfortable with this then JDSU. I have 50 open contracts on JDSU 220 sept puts - sold those a month age got about 70-71 per share - now it is about 49-52 last 1-2 days. Remember P/E on JDSU something like 200+ while GLW I believe at time of 14o's buy was something like 65-70 (one can check this on YHOO or whatever) - I do believe that GLW is IMHO a split waiting to happen and a double waiting to happen over the next year or so depending upon market conditions. Split would be rocket fuel for this stock and I ultimately expect that the P/E will approach JDSU - despite protestations to the contrary the P/E ultimately will have to drop to no more then 100 while GLW should have an expansion of P/E multiple and significant growth in profit - a prediction within 24 months I expect very little difference in the p/E of the two assuming that something stupid doesn't happen like GE buying GLW. My understanding is that GLW would not look fondly on takeover attempt. This is good in my opinion for GLW shareholders. The DOJ would not allow JDSU to take out GLW (monopoly) and I really can't think of a buyout that would help GLW shareholders. Sell puts on surging stocks that will split. IMHO this stock will split soon. How do I know - karma. DoK