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To: finfan who wrote (6260)	3/9/1999 12:07:00 PM
From: Joe S Pack	Read Replies (1) \| Respond to of 41369

Finfan: I have both 100 (ZKSAT, bought earlier) and 90 (ZKFAR). I chose 90 this time because it is in low 30s. That is my main criterian. If you have money and if your objective is to build a long-term profolio you should go for as much deep in the money calls as you can afford because you don't have to waste a lot of money on time premium. But if you go for 90 or 100s instead of 70 or 80s, you will have money to buy more contracts. So it is a question of risk versus reward. For example I bought 1 contract of 2000 strike 90 in sep. 98 and after 2 splits since then I have 4 contracts with a strike price of 22.50 per contract. I paid around 9 dollars (split adjusted) per contract and I can excercise it till Jan. 2000. I use LEAPS as a way to build long-term protfolio. Hope it helps. -Nat