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To: GraceZ who wrote (205158)	11/15/2002 5:24:29 PM
From: Box-By-The-Riviera™	Respond to of 436258

indeed. sharp cookie IMO.

To: GraceZ who wrote (205158)	11/15/2002 5:55:44 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

Someone asked me about MO on my board This was my reply. I think you and/or Joan was interested in Dividend plays MO tinyurl.com Not quite the bargain it was in 2000 but we are not permitted to go back and sell leap calls on the Naz at the top and buy leap calls on housing, PNRA, MO, and other real values when everyone was gaga over "The Gorilla Game" Dividend at 6.63 is not bad at all. For conservative players, one could buy MO, sell the 04 35 Leap covered, call pocket $5.90 have protection all the way down to approximately $38-6 ($32) and still collect 6.6% dividend. This is really a very conservative play unless one feels that MO is going to fall below 32 and stay there. You could also write the 04 30 CC for $9.10 and have protection down to approximately $38-9 = 29. But wou would be locked in for good if MO rose. If MO declined you would not care much unless it crashed. In this scenario you probably want MO to drop as long as it does not drop below your protection point. This ties up your money till 2004 but lowers your cash outlay somewhat and gets you a nice dividend at reduced risk. M