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To: KevinThompson who wrote (5544)	4/14/1999 12:58:00 PM
From: Vegas	Read Replies (1) \| Respond to of 57584

How do warrants and options differ I assume you mean options contracts like calls & puts. 1 option usually represents 100 shares of the underlying stock. A warrant usually is 1 for 1. Warrants are more similar to employee stock options. They are sold/given by the company to raise captial or whatever. The company then receives the proceeds of the sale of stock if the warrant is exercised. So in the case of ONSSW the company will recieve $6 for every warrant exercised. A company receives zilch from options contracts. JF