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To: Lazlo Pierce who wrote (35221)	2/19/1998 2:11:00 PM
From: ViperChick Secret Agent 006.9	Respond to of 58727

take a look at the spread... IF IF IF you think that Dell is going to back off some....you should buy the puts NOW...depending on how overvalued they are etc... for instance..the option guys could think that Dell is headed back down..jack the premium and THEN here is what could happen you have an in the money put...dell drops 5....but they strip off the jacked up part and you dont make as much as you should..... if you buy the put now...you could either make money when it drops..or go ahead and then sell the other side of the spread.... I havent really messed with these..except for one on the OEX which I really didnt handle very well.....was kind of stupid about it... so there are all kinds of things to consider here when doing the spread... btw, the covered call thread has an ongoing discussion about this...you might want to check it out

To: Lazlo Pierce who wrote (35221)	2/19/1998 3:44:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

david...just had the same problem you did.....I was trying to change the price on my calls to dump them for the day and found I made my 1/4 on them...but it must have traded a LONG time ago...and just got the notice....WHOOPEE...I can pay my electric bill on them...but more importantly ...I didnt lose money... what is weird is they must have given it to me at the ask or something...or it blipped when I didnt see it....but I will take it now if CDG and CUBE would just cooperate I would head out for the weekend.... of course someone just tried to convince me I should go to some place I have never heard of...Aku-Mal....hmmmm....I am ready to go somewhere.....now come on CUBE..I want to at least break even on this one barton biggs on the air changing his tune again....Old baldey gave him the whatfor on a call from Cramer where Cramer called in and criticized....