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To: surpow who wrote (23781)	6/27/2000 3:53:00 PM
From: Mannie	Read Replies (1) \| Respond to of 35685

Noah- Here are my thoughts on the GMST cc's. -The money that bought those GMST shares is designated for monthly covered call writing, and I wanted to write ATM calls for July expiration which is only about 18 days away. -I'll take a sure 12-13% in 18 days every time. -I don't think you will be able to write for higher premiums after the deal is announced, the same premiums will just move farther up the chain, plus they are looking to begin deterioration toward expiration. -I have other GMST shares uncovered that will appreciate if indeed we do get a run in share price. -Finally, I don't think we will see a completion of the TV Guide merger before July expiration.... That's my take. Good luck, Scott