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To: mammoth who wrote (907)	12/7/1998 6:07:00 PM
From: changedmyname	Read Replies (1) \| Respond to of 2782

mammoth: Actually, buying puts doesn't really work on these stocks. Case in point, EGHT. I was going to load up on puts, but the premiums on each type of option were incredible. The only puts on the stock were February, and when the stock initially popped to 10 (the day before the interview), the Feb 7 1/2 puts were something like two bucks. Even when the stock went as high as 14 the next day, the puts stayed about $2. Currently, they are..... surprise.... $2, even with the stock down at 7 and volatility gone. Probably the best way to play options, and it is just as risky (if not riskier) than shorting, is to go naked and sell a call. Or use some sort of put/call combination. Options seem to only work on the big-cap plays (blue chips and the such). Best of luck tomorrow. Jason