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To: Oblomov who wrote (26174)	3/18/1999 8:20:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 86076

wish I knew?

To: Oblomov who wrote (26174)	3/18/1999 10:22:00 PM
From: don smith	Respond to of 86076

Andrew; I bought a few sbc apr 55 puts recently. I'd also appreciate an opinion as to what the entity (666 ?) (g) is up to. Could you post if you get an answer elsewhere re: the strategy. TIA don smith

To: Oblomov who wrote (26174)	3/18/1999 10:36:00 PM
From: accountclosed	Read Replies (2) \| Respond to of 86076

From McMillan page 172... A calendar spread, also frequently called a time spread, involves the sale of one option and the simultaneous purchase of a more distant option, both with the same striking price...The neutral philosophy for using calendar spreads is that time will erode the value of the near term option at a faster rate than it will the far-term option. If this happens, the spread will widen and a profit may result at near-term expiration.