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To: Lucretius who wrote (4087)	10/12/1998 12:29:00 PM
From: waverider	Respond to of 14427

LU is looking pretty tasty here for a put. $68/69 looks like very heavy resistance. Currently $67. Holding back at the moment, but may start collecting shortly. If it busts through on a rally tomorrow or something, I'm out. <H>

To: Lucretius who wrote (4087)	10/12/1998 12:30:00 PM
From: Alias Shrugged	Read Replies (1) \| Respond to of 14427

LT Thanks for your thoughts on ABX puts/calls. Oh, and very big thanks for the call you made on Utils. Well, here's what I did today on ABX. Held on to my Jan 20 and 30 calls. This is my long term long position; I will benefit greatly if ABX soars. Held onto Nov 20 Puts and bought Nov 15 puts! Then bought Nov 17.5 and Nov 25 calls. * * * * * * * * * * With the long term position in place and doing well with ABX at 22, I spent 1-1/16 for Nov 20 puts. This was done part as hedge and part to create an opportunity. With ABX at 20 now, the put is only worth 1-1/2 to 1-3/4. I could take the profit or load up in the other direction with calls. Finally, I created an exit point for the 20 puts. If ABX were to get smacked to 15, I sell the 20s and let the 15s hedge. Mike