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To: Paul van Wijk who wrote (22378)	11/21/1997 1:15:00 PM
From: McNabb Brothers	Read Replies (1) \| Respond to of 176387

Paul, <I don't see why you should short CTXS-shares SINCE you have naked calls sold on it. Both are bets on the downside. Or am I missing something.> I'm naked with my 75 Nov. calls now, and if it is above $75 at the close today someone will call it from me and since I do not own it I will have to sell it to them, which will make me short in CTXS! Hard to think it thru at times, but I will be short the stock instead of the calls if it is above 75 on the close! Hope this explains how it works! Hank