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To: Big Dog who wrote (19229)	4/15/1998 9:13:00 PM
From: SJS	Read Replies (1) \| Respond to of 95453

YOu bought a lot of time, my friend. Alot can happen between now and then. I don't personally opt for leaving myself exposed just on the put side for 4 months with the market this high. I prefer 1 month executions for puts...however it a great way to own stock cheaper than current prices..........so Good luck!! PS: You might want to think about a "full" naked straddle with you already having legged profitably into one side of the position successfully...Here's how that works: I'd suggest that you see what the August (40's or 45) calls are, just for grins. If they look reasonable, sell an equivalent amount to the number of puts you sold. You then "straddle" the range from 30 to 40/45). Your breakeven is 30-(put premium+call premium) for the bottom, and for the top it's 40/45 (whichever call you sold) + (put premium+call premium). If the stock is between 30 and 40/45 at expiration, you keep BOTH premiums. This is a good strategy when you think the stock will NOT be making a dramatic move, and will stay in a trading range. If you think the stock will make a dramatic move but don't know which way, you BUY one of these puppies, but a real tight one (put and call at the same strike). Again, good luck and have fun!! Let me know how you made out...