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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (3246)	2/20/2000 9:35:00 PM
From: Paul Merriwether	Read Replies (1) \| Respond to of 8096

Poet I don't think I will take any further long positions in GMST @ this time(I own a boatload of common since mar '97). I also have largish march expiration long call positions in TVGIA(merger with GMST in april-may time frame). I am considering selling up to 110 march 85 or 90(more likely) naked calls in GMST to play the arb. spread(by hedging against my TVGIA long call position). I sold 40 GMST FEB 85's early last month @7 1/8 and bought back(too soon in retrospect!) @ 2 15/16. I would consider employing a similar strategy this month(depending on how things pan out I might consider a credit spread on TVGIA as well/instead). Don't want to give away much mo' info, since these options are a little thinly traded... :)