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To: J.B.C. who wrote (18465)	5/12/2000 3:22:00 PM
From: Mannie	Respond to of 35685

Excellent post JBC...thank you.

To: J.B.C. who wrote (18465)	5/12/2000 3:53:00 PM
From: Bob Pittsfield	Respond to of 35685

Jim, I agree with your strategy completely, however, in this case my situation was a little unique. I had sold 6 May 40's and 2 May 45's. I plan to be out of the country next week and I had the opportunity to buy back the 40's for 3 1/8 and sell the June 45's for 5. Likewise I bought back the 45's for 1 13/16 and sold the same June 45's for 4 7/8. Since The buy backs were for a very small loss (1/4 & 1/16), I found it very hard to refuse the additional premium in my account. Thanks for your post. It was well thought out and should be helpful to many in the same situation. Bob