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To: SJS who wrote (12466)	2/22/1998 9:44:00 PM
From: Big Dog	Read Replies (3) \| Respond to of 95453

Steve, Thanks for responding. I know you have a good handle on these option strategies. I will study your suggestions. Of course you know that I AM very bullish on FGII...if nothing else it moves up quick and that is the time to snag a nice profit. If I owned the stock and it went to 25 I wouldn't sell it. So if I look at it that way there is not much risk in the bullish option play I mentioned. The "protection" to 25 1/2 assumed I was able to sell the long calls at 4 1/2 at some point before expiration. That may be assuming a lot, of course. If the stock goes down tmw, the puts will be worth more and the calls will be cheaper. I will have a 4 hour drive in the moring to decide what to do. Thanks for your input.