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To: Hiram Walker who wrote (12604)	7/10/1998 10:34:00 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 27307

>>Since the implied volatility is so damn high,why not play a straddle put/call on all these damn internet stocks. I don't think that fast. That's Sal Habash stuff; Sal's brain cycles faster. Craig, too. I feel better moving the money from this (dare I say "over-bought") group to the semiconductors (which I feel are just starting a new bull phase), and letting the dust settle back at Internet ranch. I guess it will take months, and volatility will fade, too. Your HLIT pattern looks promising. Anything there?

To: Hiram Walker who wrote (12604)	7/10/1998 12:46:00 PM
From: Chris	Read Replies (1) \| Respond to of 27307

Hiram, Your method has validity to me. I have done this with tech stocks near earnings time, like now. It works out quite well since there is no time premium left in the option. Look for companies with earnings dates next week with high volatility. Take PAIR for example, no idea if they will be good or bad, but I know its not staying at 17. For YHOO the premiums are just big but the theory will work just as well. Chris