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To: Mark Myword who wrote (4376)	5/15/1998 5:53:00 PM
From: Jan Crawley	Read Replies (1) \| Respond to of 164684

William, I bought the puts!! ?? I did not close the puts today. Ty

To: Mark Myword who wrote (4376)	5/16/1998 8:16:00 AM
From: Glenn D. Rudolph	Respond to of 164684

If you want to end up short , write in-the-money calls on stock you don't own - it's a great way to end up shorting , and collecting premium too...works only on issues that aren't a "hard-to-borrow". This will work the same as buying in the money puts. I do believe Jan bought puts at a strike of $100 not wrote them. In either case, the availability of shares is an issue with writing in the money calls or buying in the money puts. The brokerage house can reverse the position immediately if they do not have shares. Glenn