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To: CNC who wrote (7821)	3/16/2000 5:21:00 PM
From: techguerrilla	Read Replies (1) \| Respond to of 35685

Can't get called out prior to expiration . . . . and you can buy back a call right up to the market's close on the date of expiration. John

To: CNC who wrote (7821)	3/16/2000 6:05:00 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 35685

on option deltas upon common share appreciation wicked deepinmoney calls will rise about even, pt for pt with common share move deep inmoney calls will rise about 3/4-7/8 pt per share point rise somewhat inmoney calls will rise about 1/2-5/8 pt per share pt atmoney calls will rise about 3/8 pt per share point rise somewhat outmoney calls will rise about 1/4 pt per share pt deepoutmoney calls will rise about 1/8 pt per share pt wicked deepoutmoney calls go comatose, and dont move at all (not until they upgrade to just deepoutmoney calls) / Jim

To: CNC who wrote (7821)	3/16/2000 6:37:00 PM
From: Voltaire	Read Replies (3) \| Respond to of 35685

Hi CNC, There are always exceptions to every rule but what I tell people is: Everything being equal the stocks out of the money will generally move about a third ahead of the options on the up and down side. In times of exuberance and times of fear it can be a lot closer to even. This pattern can be seen by going to the options chain and looking at the stocks appreciation for the day then look at the options. You have to look at the DAYS ACTION to make sure things are correct. Remember your account value and the value of all options is figured on the last trade of that option. If it has not traded in a few days, this can be very distorted, the reason this is very important is because if it is way out of line, it could bring on a margin call. You can buy options on margin but if you have them in a margin account it can affect the entire account. V