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To: SE who wrote (30158)	8/22/2000 12:23:18 PM
From: SE	Respond to of 35685

Not real sure how to present properly my paper trading on the covered call positions, so until I figure out a good format for that I won't report the entire position. Today I bought back the JDSU 120 calls that I sold the other day for 8 7/8. I bought them back for 11 and sold the 125's for 7 1/2. Reasoning was the strike was 5 points higher, yet the spread was only 3.5 on the options, netting an addition 1.5 points if the stock stays up here. I also bought back the RMBS 85's paying 10.75 and sold the RMBS 90's for 7.875. I orginally sold the 85's for 8.375. Again the spread between them is 2.875 for a 5 dollar strike difference. Time will tell if these were the correct moves. Comments? -SE