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To: edamo who wrote (5447)	3/23/2000 9:47:00 AM
From: Jill	Read Replies (1) \| Respond to of 8096

Hi ed, rumors of settlement in WSJ and W Post for MSFT...sending stock up higher today. Very encouraging. Jill

To: edamo who wrote (5447)	3/23/2000 6:23:00 PM
From: Bruce Ravelson	Read Replies (1) \| Respond to of 8096

Hi edamo, Thanks to you and Steve M. for put selling 101. Is there a similar strategy when people exercise puts to those exercising ITM calls. That is, I feel that most calls are exercised close to expiration, if someone wants the shares. That allows the buyer to keep more cash on hand, or not use margin to buy. Wouldn't put buyers want to exercise the sale as early as possible for the same reasons (i.e. cash in hand, not be tied into a falling stock when they can move $)? Examples might be the biotechs. Plenty of put sellers hold Aprils that would obligate them to buy at a huge loss to the common. Why don't the put owners just put the shares now, rather than wait to expiration. Any experience or thoughts on this part of selling puts? I guess it comes down to strategy. If one has sold puts that have gone well below the strike, is it better or worse to roll them out, i.e. is closer or farther out more likely to get put? Thanks, Bruce