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To: SE who wrote (45371)	6/9/1998 7:13:00 PM
From: Leland Charon	Read Replies (1) \| Respond to of 58727

Scott, First of all I was long the OEX June 550 Puts @10 3/4 coming into today (I bought them when the DOW hit 9100 yesterday). My target on those was DOW 9020 which was hit this morning. I sold the puts at 12 5/8 for a gain of +1 7/8 points. I bought the OEX June 530 Calls @13 1/4 when the DOW was at 9035 and sold them for 15 3/4 when the DOW was at 9060. It did not take much movement in the DOW to produce a gain of +2 1/2 points. The beauty of trading like this is buying calls when the premiums are low and selling them when premiums are high. I am also testing out playing the SPX using this method. This is a sound way to make the premium work for you. Leland