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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (49314)	3/1/1999 11:52:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Even though it's technically a LEAP, my SCH puts of 2000 are going to be my go-for-the-big-money play, since I paid an average of 2 each for them. I can see that for year in and year out speculation in options--which certainly provide a lot of amusement value as well as money, if you are right on them--shorter-term, cheaper otpions would be the thing, especially if you don't mind losing the premium. My own approach is that what we have had in the last three months is a once-in-a-century opportunity, and I am going to try hard not to get hooked on the options game. The (somewhat farfetched) analogy I use is that I would go to Las Vegas and play the roulette tables if I were very confident that one of the wheels was defective. I think the current market is seriously screwed up.

To: Knighty Tin who wrote (49314)	3/1/1999 1:02:00 PM
From: Knighty Tin	Read Replies (4) \| Respond to of 132070

To All, I am buying a few doper puts for the first time in about 9 months. These stocks are good cos, but the prices are ridiculous. The ingnorati are overpaying through the nose for "certainty." I am hoping that we get some uncertainty now that Clinton has been declared a virgin. <g> I am buying Lilly July 85s and American Home Products July 50s. Lilly is selling at almost 50 times eps and was growing in the mid 20% range. AHP is selling at 34 times and was growing at about 10% rates. So far, the options have been tough buying. I get a onesie or a twosie and they crank up the price. But I'm not proud. Or tired. <g> MB