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To: Cynic 2005 who wrote (26081)	12/24/1997 8:08:00 AM
From: W. Clinton Terry	Respond to of 53903

Mohan: Enjoy your posts, a lot. Quick question. Why would you open a Feb 55 put rather than a Feb 70? I have read, when buying calls, that the pros buy deep in the money, I assume because the time premiums are less. Does this logic not work in reverse for puts? Clinton

To: Cynic 2005 who wrote (26081)	12/24/1997 9:33:00 PM
From: Earlie	Respond to of 53903

Mohan: Choose 5 stocks, and choose a date/time. Your position is frozen at that point in time. I hope to keep it simple. No options allowed (I told you I'd be arbitrary) (g) Example....December 24, 2:00PM 1 MSFT (short)....price at that time, $200.00 (or whatever it was at that time) 2 MU (short)....price at that time, $6,000.00 3 IBM (short)...price at that time, $3.00 4 CSCO (short)...price at that time $20.00 5 GTW (short)...price at that time $2.00 Once you make your choice, you're stuck with it for the month. Lots of strategy here....does one get aboard now, believing that the "meltdown" starts right after Christmas, or does one wait, and allow the "Christmas rally" to run its course? The fact that all the examples are short is strictly a coincidence (g) Best, Earlie