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To: steve mamus who wrote (3164)	2/17/2000 9:38:00 PM
From: steve mamus	Respond to of 8096

Jill, I am a gut investor. My comments about GLW are just that. I have put my money where my mouth is and have shared this info in public...do your own DD as a cautionary note. If I sense something I don't like I will bail on a position on the turn of a dime no matter how large. DoK

To: steve mamus who wrote (3164)	2/17/2000 9:44:00 PM
From: Jill	Read Replies (2) \| Respond to of 8096

Well, you trade it just as you did. Or you sell covered calls; or sell a portion and keep some too. For calls, I've just looked at my MSN portfolio to give you an idea. A few months ago I bought JDSU March 110s...it was presplit, I believe JDSU was in the low 190s. Since split, I sold some, and still have some I may exercise, but the percentage increase is of today's close 977%. Another example is NTAP, bought Sept 110s on 2/2, they are up 259%. Etc etc. Now I do not have a portfolio anywhere near your size--can you imagine what you could do buying 40 or 50 of such? You are at risk, and I agree best to do anything on a market correction (sell puts, buy calls, go long)...but I always tend to buy myself some time. I believe Sept was as far out as I could go on NTAP. I picked a slightly OTM strike at the time so that I didn't have a huge amount of risk, but I could benefit from the pop. I can't bear to think of what I would've gotten if I'd bought CREE calls ont eh day Rocketman did, I was looking at the same strikes. I am sure others on the board have better stories to tell, but I think the leverage is worth it--again, you don't get to generate margin unless they are leaps and you are with a full service brokerage...but if you don't do it extremely near term you likely can ride out some volatility on the way up. For some reason I see that I bought March 200s on JDSU--I had entirely forgotten--I think I did it because of Poet, who loves to trade close in (and does it well). Now, even though JDSU is up, they are a buck less than when I bought--I'm going to sell them tomorrow. They'll deteriorate further next Monday. And even tho there is likely to be a pre-split runup and they'd become profitable, I'm not comfortable taking a risk that close in.

To: steve mamus who wrote (3164)	2/17/2000 10:09:00 PM
From: SecularBull	Read Replies (1) \| Respond to of 8096

The day of the "market holocaust" is without a doubt the best day to be buying calls. The same does not necessarily hold true for selling puts, dependent upon your strategy. Regards, LoF