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To: Voltaire who wrote (10664)	4/3/2000 5:19:00 PM
From: Dr. David Gleitman	Read Replies (1) \| Respond to of 35685

Thanks for the feedback V. Now to find a suitable strikeprice and time combo. I holding 1000 RMBS, avg cost 340. I sold the cc at 43 and bought them back at 8 (sad case of premature valuation). Any suggestions? Thanks, David

To: Voltaire who wrote (10664)	4/3/2000 5:23:00 PM
From: Dealer	Read Replies (1) \| Respond to of 35685

Stocks down, Options down more! My Solution Today! I was fortunate enough to sell 1800 shares of (RNWK) at 57 1/2 and was working on an order to buy 50 contracts of August 70 calls at 10 1/2 (almost 5 months out, long enough because I will sell them this month at expiration) I will then buy back my stock and sell the cover calls for May. Anyway the stock moved lower to 53 1/2 and I got the August 70 calls at 9 3/8. This gives me control of 5000 shares of stock for $46,875.00. The delta is right at .50 (approx. percentage you receive if stock moves $1) Essentially I am controlling 1 1/2 times the stock...plus I have after clearing margin on the 1800 original share margin about $5,000.00 in my account. Oh! No! I think I gotta do it again tomorrow! dealer