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To: Sam Citron who wrote (9398)	11/15/2004 11:28:06 AM
From: Gottfried	Read Replies (1) \| Respond to of 13403

LU sold Jan05 $4 puts for $0.30 [I don't disclose all trades] Gottfried

To: Sam Citron who wrote (9398)	11/15/2004 11:38:46 AM
From: Sam Citron	Read Replies (1) \| Respond to of 13403

GGNS Bot 4700 1.84 (working 300)

To: Sam Citron who wrote (9398)	11/16/2004 1:59:29 PM
From: Sam Citron	Respond to of 13403

OT Whew, that was a close one. Yesterday's outrageous premium signaled that fireworks were in the air. But they didn't explode until today. Glad I didn't sell the Nov 20 call. RMBS is a roller coaster and its fate will largely be determined by judges rather than consumers. One hears that today's jump is due to a favorable Markman construction hearing ruling by Judge Whyte. cbs.marketwatch.com{881917FD-18AA-4762-B483-1DB083665A3B}&symb=RMBS&sid=41488&siteid=bigcharts&tool=1&dist=bigcharts For those who want to read Judge Whyte's claim construction order in the original they can do so here: investor.rambus.com There's not a word about any of this yet in the WSJ. I guess the carrier pigeon hadn't delivered the message to them yet. No wonder they felt they had to buy Marketwatch. <g> When all is said and done, my covered call write may have the effect of imposing some sell discipline at a time when it is usually most difficult for a long to sell, when a stock is exploding to the upside. Sam

To: Sam Citron who wrote (9398)	11/16/2004 2:28:10 PM
From: Sam Citron	Respond to of 13403

OT Reading up on implied volatility, I locate an "Online Binomial/Black-Scholes Convergence Calculator" hoadley.net By plugging in a few different volatility numbers with an underlying price of 19, a strike of 22.5 and 4 days to run, I get one that yields 26 cents: implied volatility = 155%. The site also offers a $50 download of an implied volatility calculator. hoadley.net Sam