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To: waverider who wrote (20348)	4/24/1998 11:34:00 PM
From: Alski	Read Replies (2) \| Respond to of 95453

Diamond, At this point it probably makes little difference but be sure you understand your broker's fees to exercise. Of all the brokers I've checked out I don't think I've ever seen that fee published. Sometimes it's cheaper to sell/buy rather than exercise. Calls that deep in the money and this close to expiry should track the common nearly dollar for dollar. (If you want to heat up the calculator and pinch pennies the time premium is $.375 and the delta is .93; so the calls should move $.93 per common $1 and decay $.375 in the next three weeks.) Sometimes if the common makes a big step change down the calls will lag a bit. That would be a great time to take your profit but you'd have to be quick. The real advantages to holding the options at this point are if the big correction comes before expiry your downside is limited to 9.75 and you don't have to pull your $30 right now from wherever it's invested if it's not a good time. You gotta decide if you think that's huge. Might be if Luc is right and your $30 is cash! Biggest problem is, of course, deciding if FGII is the best place to park your $40 right now! Do you have a target in mind? I'm long FGII and getting a bit squeamish so I think I might sell the calls and re-invest just the proceeds. Alski