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To: Dom B. who wrote (51985)	9/9/1998 8:17:00 PM
From: SJS	Read Replies (1) \| Respond to of 58727

Dom. If you are long the actual stock and are long puts, and you exercise the puts, you put your actual stock and get cash. You're done. If you don't own stock and are long puts, and you exercise the puts, you get cash and your short, needing to cover or eventually close the transaction (as you would do any short...). These rules are what Fidelity does. Your mileage may vary according to the house you deal with. Regards,

To: Dom B. who wrote (51985)	9/9/1998 9:12:00 PM
From: manny t	Respond to of 58727

If you don't own the stock,and there is no premium on the put,I have found that if you can afford to buy the stock,you will have a lot more control over the price you want for the put,by buying the stock at market or limit and then "putting" the stock you bought at the exercise price.In trying to sell a put in a fast market,the market makers have much more power than the market makers for the stock. Good Luck Manny T

To: Dom B. who wrote (51985)	9/9/1998 9:16:00 PM
From: Nemer	Read Replies (1) \| Respond to of 58727

SgtBad: OT ------- LockAndLoad ------ My #1 Son ---- Sgt --- CottonBalerBrigade -- 24thDiv --- RegUSArmy --- GroundPoundingInfantry ----- sound familiar ---- ? ? ? You were prolley some rear guard/watchem/cover brigade ---- LOL ---- not really, but that's damg sure where I'd a been ........ GGGGG I just couldn't help myself ........ gggg now , feel free to castigate me and tell me lotsa war stories and etc .......ggggg BubbaWillie and I both evaded ----- mayhaps differing circumstances, but both evaded ........... so what ever comment that I make has to be in jest .... not casting aspersion .......... Back to the original address ---- SgtBad ....... I know that fits ........ Get the troops here to Lock and Load ---- Eyes to the front --- Suck it up ---- Don't wait for the Marines ---- We can handle this ----- Charge ----------- Into the breach goes the LightBrigade ---- Tell 'em SgtBad ----- tell 'em Regards ----Nemer