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To: Return to Sender who wrote (9405)	11/16/2004 8:03:52 AM
From: Alastair McIntosh	Respond to of 13403

O.T. RtS and Sam, a covered call play with an even higher volatility premium than CTIC is AGIX. A short naked straddle on the Jan 35s would be in the money if the stock closes between $22 and $52.

To: Return to Sender who wrote (9405)	11/16/2004 11:24:39 AM
From: Sam Citron	Read Replies (1) \| Respond to of 13403

OT Glad to help, RtS. One thing I have learned is that if it looks too good to be true, it just may be. Yesterday while RMBS was selling at about 19, someone was bidding 25 cents for a November 22.5 call with 4 days until expiration. I thought that was a generous premium and was paid 26 cents each, a penny above my offer! Behold, RMBS is now trading about 22.5. The options market are a weather vane of expected volatility. I should have bought more stock! Sam