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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: EPS who wrote (1724)	4/16/1998 4:29:00 PM
From: Steve Fancy	Respond to of 22640

For anyone looking for any kind of reassurance... Hi, Steve I have been away from the market this week. The fight is on, over the R$150 options - but I doubt that TBR will go as far as R$140. Graphically it could though. If Merrill, CS First Boston, JP Morgan were to cut ratings, then I would be worried. I will get some info and get it to you on the SI. All local news is very good. Let see, R$150 would be 130, R$140, about 121. sf I hope the contributor doesn't mind my posting this. Thanks! sf

To: EPS who wrote (1724)	4/16/1998 5:30:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Victor, no, I don't know how to do that...I'm not usually in these type of predicaments (sp?) and don't generally try calculate to the day...too many external variables, especially with this stock. With most of the TBR put positions I've sold, I've been way out of the money at expiration. I think you were referring to Ben Antanaitis on the Novell thread. You could send him a message or check his web site. Don't know how to get Brazil option information...maybe Mike or Jeremy can help. Please let us know if you find out anything. It really looks to me like it's set up to go either way, but bias seems to be to the downside. I'm hoping Japan will say something to move their market tonight, even of temporairly. sf

To: EPS who wrote (1724)	4/16/1998 6:52:00 PM
From: Steve Fancy	Respond to of 22640

Victor, one other issue pertaining to this...I thought Mike said their options expire on Monday. I wonder if that means they close on Monday, but last actual trading day is Friday? sf