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To: Earlie who wrote (261143)	9/20/2003 9:37:46 AM
From: Tommaso	Respond to of 436258

I am adding steadily to QQQ LEAP puts (January 2006), some in the money and some out. Sold a big block of Dow puts to nail down a short term loss just in time and cut this year's tax bill; I think the QQQs are much more overvalued at this point. All this activity got me a fed call, but it's for $180 and I think I can manage that. I never have understood those fed calls, but they sure are a nuisance, especially when your entire account has over 90% equity.