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To: Doug M. who wrote (70575)	1/5/1999 11:41:00 PM
From: Ibexx	Read Replies (1) \| Respond to of 186894

Doug, Thanks for your post. You only reinforced what I was telling John O' that writing puts IS by no means a piece of cake. I have fine-tuned my own strategy regarding this. Thus far--knock on wood--I have not lost one single transactions out of more 20 executed in 1998. As to getting wiped out in a market meltdown, that's precisely why responsible brokerages will not casually allow put-selling priviledges. Regards, Ibexx PS: Did you vaguely remember my postings of "selling Intel Jan 85p massively when the stock was traded at $80-85? and selling MSFT Jan 105p when the stock was traded at $115 a few weeks ago?"--- all in the SI archives.

To: Doug M. who wrote (70575)	1/6/1999 7:13:00 AM
From: GVTucker	Respond to of 186894

Doug, RE:<< I've heard many times that a lot of people got wiped out in 1987 because they thought they were printing money by writing puts.>> Ah, the memories. In 87, conventional wisdom on Wall St was that selling deep out of the money OEX puts was an easy way to pocket money, particularly as volatilities increased in September. In one instance, a trader next to me literally sold the same puts that I bought. That trader lost his house and just about everything else less than two weeks later.