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To: David Fitz who wrote (15432)	7/23/1998 11:24:00 AM
From: DanZ	Read Replies (1) \| Respond to of 53068

CA. David, Given the collapse in CA yesterday, I can't really get a good read on the chart. Your option play is purely a gamble with a very high risk to reward. The premium in the options is very high because of the dramatic increase in volatility. If the volatility subsides, the premium will shrink substantially. I think you would be better of buying the stock and shorting the calls against your position. Best of luck to both of us with DWRX. It has been acting better the past two days. Looks like a basing process. I think it will run to 10 1/2 to 11 if it gets through 9 1/2. Dan