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To: JZGalt who wrote (12184)	2/19/1998 8:02:00 PM
From: waverider	Read Replies (1) \| Respond to of 95453

>but you are then making the assumption that you need to hold them until their expiration.< Maybe I wasn't clear...I didn't mean I would have to keep the puts 'till expiration. I know I can sell them. But I was making an assumption that I would keep them and ignore the option of selling the puts just for simplification. Of course the whole thing is based on predicting market moves, and I don't have a clue there. But I do understand that the puts will cost me and that all I can lose is the premium...and could very well gain quite a bit if the underlying stock drops like a rock (which BTW I don't think CDG will) This probably means I've answered my own question. Cliff's below $35? Nah. Thanks Dave. A pleasant surprise to see you here. : ) Diamond H