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To: Poet who wrote (7412)	5/5/2000 9:19:00 AM
From: Jill	Read Replies (1) \| Respond to of 8096

Me, too. I also did very well buying short-term calls as well. As you may remember, since we did some of that together. I began with January 200's on QCOM (presplit--last November), they cost around 20 and went up to around 200. I rolled them out during that rare momentum time with QCOM: which was up to the moment of the split. So I sold them and bought further OTM--three for the price of one, so to speak. I did that several times. So did you. The momentum continued, with some amazing volatility, until January 3...then the dilution, its effects on call prices, and change of psychology brought the stock down. It was going to retrace from that monster run-up, and it has. There was still a batch of once OTM and by then, very DIM calls I hadn't sold, and they deflated in value, though still profitable--I exercised them. And it's a good company. I also did well on the leaps. I bought 02s in my KEOGH, watched them double, and sold them. I've found buying leaps, both ITM and OTM, profitable. Calls, too. Sometimes it works in reverse, of course. But in general it's been a great strategy during this time. And I've continued to use it in the last few weeks on NTAP and SEBL. Put-selling, OTOH, got me in some trouble recently and could've gotten me in far more. I will still use it from time to time, but very judiciously.