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To: ratan lal who wrote (49141)	8/4/1998 8:42:00 AM
From: donald sew	Read Replies (2) \| Respond to of 58727

Rat, Right now the futures are up quite strong. Maybe it was better that we did not initiate OEX PUTS yesterday, not that it was thru design. If you recall from my previous post there are 2 strong support lines, one at 8750 and the key one at 8570. I felt that we would get a bounce near the 8750 support especially in light of pulling back 600 points from the highs. We may even get a better buy-in point for PUTS now. Some time value and momentum premium will come off, so th PUTs should be a bit cheaper. Maximum height for this bounce at 9040, if it breaks it, we could go to the next resistance line which is at 9104; however do not feel it will break 9040 at this time. Seeya