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URL:  http://boards.fool.com/im-into-a-reasonable-number-of-the-1999-leap-puts-10030340.aspx

Subject:  Re: Citibank Date:  9/12/1997  8:01 PM
Author:  kschof Number:  198 of 44599

I'm into a reasonable number of the 1999 LEAP puts on CCI. I went that route instead of a straight short because I wasn't SURE about the timing and because the option premium seemed quite reasonable given the time to expiry.

I expect to see a long slow decline as margins shrink and the quality of consumer debt begins to deteriorate as rates trend higher. I also agree with a comment you made a while ago about stock buybacks possibly abating due to possible reserve requirement increases.

kschof
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