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To: KM who wrote (14227)	11/14/1997 8:22:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Reality exists in this sector- only that it cannot be seen- we will have soon a major reversal- SOX 300 Jan calls may be and 250 puts selling.

To: KM who wrote (14227)	11/14/1997 8:33:00 AM
From: Jerry Olson	Respond to of 50167

Hi Truffy I'd be careful of AMAT, I'll probably sell my shares & options before the eps announcement....

To: KM who wrote (14227)	11/14/1997 2:40:00 PM
From: cardiologist to be	Read Replies (3) \| Respond to of 50167

question for those more experienced than i in tech options. i own amat at 33. the way i see it, if earnings stink, we may well see 25 in the short term. if earnings are good, the stock may again reach 40-45 before the end of the year. i am interested in a modest gain, not a spectacular one, but am worried about the risk. so, i wrote dec 32.5 calls today at a premium of 3 (10 contracts). if amat tanks, i buy back my calls for a fraction, and hold the stock for what i believe is a long term profit (about 3-6 months). if amat peaks, i lose my large profit, but still keep my premium for a 2500 profit. is this a bad strategy? any ideas?