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To: Stephen M. DeMoss who wrote (30172)	3/14/1998 1:00:00 PM
From: John Graybill	Respond to of 53903

Steve, go with longer options, the one-month stuff is what's killing you. Buy an option four or five months out, then on a move in your direction, sell a nearer-term option perhaps at a further-out strike price, that will probably expire worthless, or at least a lot cheaper than you sold it for. This month was absolutely perfect for people trying that strategy with the 35's. If you are holding June or July 35's, every time MU dipped to 34 or 33+change you would sell a March 35 for two bucks or so. Then on the next spike back up to 35, you buy the March's back for a buck. Over and over and over again. That's how the big money is made on options. Well, unless you're somebody in Goldman Sachs buying 9000 out-of-the-money contracts a few hours before the company makes a major upgrade in the last week of option expiration, of course.