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To: Jill who wrote (30769)	8/28/2000 9:33:37 AM
From: adairm	Read Replies (1) \| Respond to of 35685

Yep. Selling puts is a bullish strategy. Bullish strategies don't work in bear markets... There are a couple of things you can do to protect yourself. You can set stops. If the trade doesn't work, close it out! Especially true when dealing with anything margin related. Now about your JDSU LEAPS puts you've sold. I believe you sold them to 'repair' a losing trade. And now that JDSU has recovered, you can buy them back for 1/2 of what you sold them for. I don't know for sure, but it sounds like your repair strategy worked. Now that you've been repaired, why don't you close out the puts? And go back to selling short term puts. (Or what ever you'd rather do.) Best, Adairm