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To: Bilow who wrote (11738)	7/25/1998 7:24:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

Block trading only wants 5% margin for a hedged position. Normally it is used by daytraders who never hold net long or short positions over night. In addition, there is no margin interest on the 50% margin required for your long or short position during the day. (Actually, they rebate the margin interest to you, I believe, due to SEC requirements.) In any case, I think you can find a much better broker. Best of luck. Bilow, You stated the correct information. I was told back in early May this was not the case and asked twice. I finally took the boxed position and found out I was told incorrectly. This has cost me $600K in losses give or take considering I could have rode the long shares up. I will be changing brokers. Thank you for the information. Glenn