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To: Ibexx who wrote (2504)	9/9/1998 3:32:00 PM
From: deeno	Read Replies (1) \| Respond to of 3424

OT OT OT Puts or the Calls?

To: Ibexx who wrote (2504)	9/9/1998 3:48:00 PM
From: Sam Citron	Respond to of 3424

OTOT-CIENI just bought Oct20s at $3.25 and expect to have at least a 2 bagger by expiry. Orthodox wisdom says you have at best a 50% chance of a double and a 50% chance of it expiring worthless, as most options have a tendency to do. (Thus NPV=$3.25, including commission <g>). Do you really have the ability to make such good short term predictions? My tendency would be to buy the stock if I think it's cheap and lower my basis to really bargain levels by selling the covered call. Sam