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To: waverider who wrote (67485)	2/18/2000 4:48:00 PM
From: Voltaire	Read Replies (2) \| Respond to of 152472

Yes that is one thing Jill and uncle Frank have rightfully pounded home. I still say though that if we are going to go through this crap where you made your money every six months, outside of trading them it looks like on a 24 month out call, one would have your gift of an opportunity 4 different times and think of the time premium lost. Wow. Looks like just six months out would serve one better. In other words it appears as if one doing the two year leaps are having to recover basically four times, and not being any better off every six months on the average than they were six months before and worse would have lost six more months in TIME VALUE, not to mention the pick up in leverage with the six month calls. Just a thought from a non leap expert. V