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To: Shack who wrote (65507)	2/6/2003 12:35:36 PM
From: NOW	Respond to of 209892

TUB on BF says "Minimal to no effect" from these sales.

To: Shack who wrote (65507)	2/6/2003 4:37:21 PM
From: the-phoenix	Read Replies (2) \| Respond to of 209892

I decided the Big Boys don't get to have all the fun to themselves. BOT QQQ Jan05 45 Puts for 20.90 and sold 55's for 30.95 average. Margin requirement is less than the credit spread, so I have a risk-free trade that ties up no capital and in a couple years has a chance of returning a handsome profit. Will try to leg into some more tomorrow if we drop and then just put it away and fuggedaboudit. The only risk is early assignment on the short puts and potential slippage in unwinding the long side if that happens. Have to see if I can get my broker to exercise the long puts to cover the short puts obligation one for one.