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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (88031)	1/6/2001 5:03:39 PM
From: Joan Osland Graffius	Read Replies (2) \| Respond to of 132070

mishedio, >>In the meantime I picked up 50 JUN strike 40 JPM PUTs for a mere 1 5/8 each on FRI. That is like shorting 250,000 worth of stock with a maximum guaranteed loss of about 7,500. Now only 8 points out of the money. WOW, is this a great country or what? So I will just sit and hold these babies, and in the meantime contine to trade tech options on fear and exuberance going for smaller gains on those rather than all home runs. I also own some JPM puts. You should check with your broker but I believe each contract represents 370 shares and not 100. When the merger was completed on Monday they adjusted the JPM puts and calls by not changing the strike price or giving you more contracts but changing the number of shares each contract represents. Joan