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To: pater tenebrarum who wrote (107204)	6/7/2001 2:11:04 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

Heinz, They stick to 3.625% got another offer for 3.171% for 500,000 DM. As usual the bank officer said i have the best rates < well I don not believe him > in any case instead of husling for 1/8 percent decided to write covered calls on the Euro (prices are at cme.com ) one point is $12.5. in this case if I write for example two July 875 calls I will collect 300 x 12.5 = $3750 for 1 1/2 month if the Euro is at present prices or stays below 0.875. return is 3750/(.85x 125,000) = 3.5% which is almost the yearly interest rate. One more question for those speaking well the native language ------- how will this translate for June, July and August Last Trading Day - Second business day before the third Wednesday of the contract month cme.com Thanks Haim