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To: BDR who wrote (195635)	10/6/2002 3:15:29 PM
From: Tommaso	Read Replies (2) \| Respond to of 436258

I had to find that out by going into the fine print in the CBOE site, as I remember. At this point the "fair value" of the LEAPS on the DJX is quite close to the price of the options, but (I think) it sure beats paying a big time premium. I am expecting the options to develop the characteristics of American-style options as they approach expiration (come within a few months of it). I mean, they might take on a time-value premium if more people start using them to hedge on the downside.