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To: jbn3 who wrote (42099)	5/14/1998 3:40:00 PM
From: Gabriel008	Respond to of 176387

JBN3, I got the May 90 & June 95 this a.m. but my order was only filled after the stock came back to the $97 range. The market makers really control the action & that's generally why I play longer term options and leaps. I picked up 20 CALL contracts of both options. I paid $8 7/8 for the June 95 and I expect to sell them either just before the earnings report on Tuesday or later in the week, depending on the stock price. The MAY 90 was a gamble and I actually had my order in when the stock was down $3 - but I've played this game long enough and should have known what would happen. I'll close out the May 90 position tomorrow.

To: jbn3 who wrote (42099)	5/14/1998 3:48:00 PM
From: Gabriel008	Read Replies (1) \| Respond to of 176387

JBN3, re. IBM the CEO made some positive comments yesterday. He stated that he believes the company can generate double digit revenue growth some time in the future. Both Bear Stearns and Soundview upgraded Big Blue this morning.

To: jbn3 who wrote (42099)	5/16/1998 12:12:00 PM
From: Gabriel008	Read Replies (1) \| Respond to of 176387

JBN3, I took a beating on my May 90's yesterday. I should of known with no May 95 strike that the MM's would move it down to the next strike price. But they had to trade over 30 million shares to do it. Although I lost $15k I still have 240 short term & Leap CALL contracts left. Good thing I bought these in late March & April. Incidentally, my broker reports there is a large imbalance in the bid & ask volume in favour of the bids. We should expect a slingshot effect on the price Monday.