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To: kdavy who wrote (9252)	8/25/2004 10:07:59 PM
From: BWAC	Respond to of 13403

<What is wrong with this scenario.> I know the answer! You're buying. You're not selling. You've got a plan beyond 15 minutes.

To: kdavy who wrote (9252)	8/25/2004 11:51:04 PM
From: Nancy	Respond to of 13403

I went to CBOE and checked the box to show ALL exchanges, and saw 2 showings - one is 5000, the other is 5010. But may be the 5010 is the total of 5000 + 10. AMAT (Nasdaq) 16.26 +0.33 Aug 25,2004 @ 23:40 ET (Data 15 Minutes Delayed) Bid 16.25 Ask 16.24 Size 426x95 Vol 31907172 Calls Last Sale Net Bid Ask Vol Open Int Puts Last Sale Net Bid Ask Vol Open Int 07 Jan 20.00 (VPJ AD) 3.00 +0.30 2.80 2.90 5010 680 07 Jan 20.00 (VPJ MD) 5.70 pc 5.50 5.80 0 354 07 Jan 20.00 (VPJ AD-E) 2.70 pc 2.80 2.95 0 680 07 Jan 20.00 (VPJ MD-E) 4.70 pc 5.50 5.80 0 354 07 Jan 20.00 (VPJ AD-A) 2.70 pc 2.80 3.20 0 680 07 Jan 20.00 (VPJ MD-A) 5.30 pc 5.40 5.90 0 354 07 Jan 20.00 (VPJ AD-P) 2.75 -0.10 2.50 3.30 5000 680 07 Jan 20.00 (VPJ MD-P) 4.30 pc 5.10 6.10 0 354 07 Jan 20.00 (VPJ AD-X) 2.90 pc 2.80 3.10 0 680 07 Jan 20.00 (VPJ MD-X) 5.70 pc 5.50 5.90 0 354 07 Jan 20.00 (VPJ AD-B) 2.75 pc 2.80 2.95 0 680 07 Jan 20.00 (VPJ MD-B) 5.50 pc 5.50 5.70 0 354 07 Jan 20.00 (VPJ AD-8) 3.00 +0.10 2.70 2.90 10 680 07 Jan 20.00 (VPJ MD-8) 5.80 pc 5.40 5.80 0 354 quote.cboe.com Why do you need to buy back the leap with loss if you feel within 2 years AMAT would rise in good price ? I only buy leaps in 2 scenarios : 1) situations like Oct 2002, or Mar 2003 2) stock is on an uptrend and move relatively fast going up. Basically the stock should be ready to move up quite soon. Otherwise, you waste lots of time prem. you could, otoh, create a synethic long - i.e. sell a put and buy a call, call usually more expensive than put, at the same at the money strike. but if you are bullish, sell a put in the money and buy a put out of the money - you may even cover commission plus some credit left.