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To: Uncle Frank who wrote (7728)	4/12/2001 1:46:39 AM
From: Lhn5	Read Replies (1) \| Respond to of 10934

<<Ntap calls command a high premium. With the stock closing at 16.56, nulev (May 12.5 strike) were bid at $5.10. If ntap opens in the mid 14s, they should still command about $4. I see it as a reasonable hedge and some nice income in return for the pain. >> That is only a $2 premium, and there seems to be a very reasonable chance that by late May NTAP will be above 12.5. So basically you are selling NTAP for 14.5 unless it is below 12.5 at that time. Is that what you want to do? The May 15s might pay near 2, and that way at least if you are called you are getting 17 for the shares. If you are that sure NTAP will be less than 12 in 5 weeks, what if just sell it and then buy it back later?

To: Uncle Frank who wrote (7728)	4/12/2001 3:40:45 AM
From: Normandi	Read Replies (1) \| Respond to of 10934

Unckle Frank Good for you. I think you have the right concept. Wish I could write with you. I still am underwater on 5k shares at 78. I'm going to watch what happens Thursday and early Friday. If there should be a sell off, I will dump and re-buy my additional shares. Look at my account I have 30k shares @ average of 13.7. Thought it was a bit lower.Thanks for the phone call and the NTAP warning, much appreciated. Re: Daughters Real Estate: I will find the best Realtor to give the maximum amount of hand holding due to the geography she may want to purchase. Your daughter will receive the very best representation, regardless. Busy for the next couple of days due to the day job, please be patient for return messages. Your friendship is much appreciated, and understated. Cheers ~Norm