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To: Elmer who wrote (149735)	11/27/2001 12:34:17 AM
From: kapkan4u	Respond to of 186894

<So what are you writing in the way of puts lately?> I am short over 3500 put contracts in AMD for Jan 2003 and Jan 2004. A majority are strike $15s that I sold when AMD was under $9. That generated a pile of dough that I promptly put in the US long bond. That was before the huge run on 30 year treasuries. Of course they came back down quite a bit, but still are worth more than I paid for them. And of course they pay 5 3/8% and are very liquid. In general, I think that selling LEAPs puts and buying long US bonds with the proceeds is the best wait and see strategy in sideways and bear markets. The trick is to time the points of sale. Kap