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To: John Graybill who wrote (27893)	2/6/1998 7:00:00 AM
From: MR. PANAMA (I am a PLAYER)	Respond to of 53903

John G...keep the bears faith Bro...you tell the World...Good Morn Americas...

To: John Graybill who wrote (27893)	2/6/1998 7:04:00 AM
From: MR. PANAMA (I am a PLAYER)	Read Replies (1) \| Respond to of 53903

BOY O BOY IF K STAR can be proven to wanting Monica to LIE...END OF SPECIALE !!!! MKT will shoot up if STAR runs out of Nuclear fuel ...you know Supernova effect leading to Black Hole...hahaha hahaha or in his case maybe a WHITE DWARF...hahaha

To: John Graybill who wrote (27893)	2/6/1998 11:02:00 AM
From: John Graybill	Read Replies (1) \| Respond to of 53903

Bought July 35 puts at 5 3/8. I will try to sell lower-strike, nearer-term puts against them in every cycle (Feb 32 1/2 in Feb, perhaps) and take that money and buy more long puts, as many times as possible. My aim in selling the lower-strike puts is to pick the strike price that I think MU will close at. This way I sell the most "hot air" and can add the most to my position. There are a number of choices I must make: when to sell, what strike price to use, whether my intent is to sell 100% hot air or whether I want to sell high and buy (buy back to cancel it out) low at expiration. I will keep the group informed!