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To: SecularBull who wrote (3726)	7/20/2000 11:49:32 PM
From: DownSouth	Read Replies (1) \| Respond to of 10934

Looks good to me!

To: SecularBull who wrote (3726)	7/21/2000 1:35:17 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 10934

Hi,Loffy. >> If you bought the '02 $130s, the breakeven (today) would be $170 Your analysis is valid only if you are fixated on exercising, which is not the suggested strategy for leaps, as you sacrifice too much in the way of time premium by waiting to expiry. If qcom goes to 80 in the next 6 months, a 27% return, the bid on '02 $130s would increase by over 75%. LEAPS are used in different ways than calls. I'd recommend you rtfm rather than approaching them intuitively. fwiw, uf