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To: steve barneke who wrote (68369)	9/30/1998 1:12:00 PM
From: T L Comiskey	Respond to of 176387

Mohan....Im back in with a partial order.......66 3/16.......! :>) T

To: steve barneke who wrote (68369)	9/30/1998 1:19:00 PM
From: jbn3	Read Replies (1) \| Respond to of 176387

re LEAPs and options Steve, in answer to your question.... Yes. If you buy a Jan 2000 or 2001 LEAP call with a 70 strike, it means that up until the day of expiration you can buy the underlying equity (usually--but not always--100 shares) at the strike price. The reason that people sometimes buy short term options is that their price reflects a relatively low time premium. Ergo, if the stock makes a decisive move within* the time frame of the option, the leverage (and potential profit) is greater. However, the risk is greater that the stock WON'T make that decisive move in the right direction. For instance, (last April, I believe) William Spaulding recommended INTC May 150 calls. INTC had falledn to about 128 at the time, and the 150 calls were trading ~ 7/8. INTC did make a strong move, and one could have sold them at ~$15 a few weeks later. (Recommendation was on this thread, so you can check it out if you wish.) * If an equity had established options or LEAPs at the time it makes an odd split (3:2 or 5:2, for instance), then you can end up with an option for something other than 100 shares. Hope that helps, 3.