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To: Poet who wrote (8768)	12/28/2000 10:32:32 AM
From: coug	Read Replies (1) \| Respond to of 10876

Just bought a few Jan 60 puts at 3 1/8.. Anticipating..the thing to roll over.. A small bet to keep me alert.. Edit..Just checked hourly charts..after first hour.. 2 of 4, Price and Volume now on "sell side".. Beta and Vix on "buys".. Like them together because if not "whipsaw city" sometimes materializes. We will see

To: Poet who wrote (8768)	12/28/2000 10:43:14 AM
From: Cosmo Daisey	Respond to of 10876

Poet, I added Cubes this AM @ 62. Jan 62 QUEAJ is @ 4 1/8. In this market I am looking more towards downside protection. If the Q's move up three points to 65 then QUEAJ should have a premium of 6. I would write ITM QUEAJ @ 6 and put it in the bank rather than write ATM QUEAM Jan 65 @ about 4 1/8. In a pullback I am protected down to 56, about 250 NAZ points lower than where we are now. The ATM @ 65 QUEAM return is 4 1/8 plus 3 if called. The position is protected down to about 58. This only works if the NAZ improves and it is sideways at the moment. cdaisey@first-night-in-Mystic.com