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To: Electric who wrote (31402)	12/17/1997 2:31:00 PM
From: Rick C.	Read Replies (1) \| Respond to of 58727

> Has your PLAB spread worked out? < E~Yes, and I am out for expira. month as of yesterday, with a 199% roi (net after comms.) since opened bullspread on Nov. 7. Results: (Gross) A. Offset puts sold five turns for 7.5 total prem. captured B. Less orig. cost of protec. puts -2.375 = 5.125 gain total This was alot of footwork for the gain involved, and even this is not typical, since PLAB was more volatile than normal stocks during this period. You can't count on this. Now that split is complete, PLAB will probably rest for awhile. Drawback: The pp's purchased for $2375 in Nov. SHOULD be worth an additional $500 to sell as of yesterday when I TRIED. Fact-of-life: Even though Bid/Ask was 1/4 X 1/4, MM's would NOT fill the sale order at the Bid, even though 4 days remained!! Like I said earlier, just figure on writing off the cost of whatever pp's you buy, and hope you can get 2-4 round turns benefit out of them during the month. MM's will NEVER let you get your hand in their pockets for final time to add insult to injury by dumping the pp's. Good Luck, Rick