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To: ratan lal who wrote (42697)	5/8/1998 11:21:00 AM
From: donald sew	Respond to of 58727

Ratan, >>> I understand. BUT my question was - Why sell the 430's in the first place. They seemed to have reduced your profit substantially rather then improve it. Was that because you were not comfortable with your 540 position and wanted to hedge it ?? <<< It actually only reduced my profit by $1.00. It was not so much that I was not comfortable with the short, but but I was able to reduce my risk capital by 87% (4.75 to .87), but still maintain a high profit potential. It also frees up capital of $3.88/call, in case I wanted to do something else. Seeya