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DECEMBER INITIAL PUT WRITES

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We are recommending five (5) put writes to start our December
recommendation list

We are recommending writing puts on the following companies:

VRTX - Vertex Pharmaceuticals Incorporated,
a biotechnology company, engages in the discovery, development, and commercialization of small molecule drugs for HIV infection,chronic hepatitis C virus infection, inflammatory and autoimmune disorders, cancer, pain,and bacterial infection. It offers Lexiva/Telzir and Agenerase for HIV infection.


ALKS - Alkermes, Inc.
develops pharmaceutical products based on drug delivery technologies. The company's commercial product, Risperdal Consta, is an antipsychotic medication approved for use in schizophrenia and is marketed worldwide. Its product candidate under development, Vivitrex, is a once-a-month injection for the treatment of alcohol and opioid dependence.


MYOG - Myogen, Inc.,
a biopharmaceutical company, engages in the discovery, development, and commercialization of small molecule therapeutics for the treatment of cardiovascular diseases. It markets an intravenous formulation of enoximone, Perfan I.V., for the treatment of acute decompensated heart failure in Europe.


NFLX - Netflix, Inc.
operates as an online movie rental subscription service provider in the United States. It provides its subscribers access to a library of movie, television, and other filmed entertainment titles. The company also offers its subscribers with decision support information on each title in its library. As of December 31, 2004, it provided approximately 2,600,000 subscribers access to a library of approximately 35,000 movie, television, and other filmed entertainment titles. Netflix was incorporated in 1997 and is headquartered in Los Gatos, California.

IIJI - Internet Initiative Japan, Inc.
(IIJ) offers a range of Internet connectivity services and network solutions in Japan.
It primarily provides Internet connectivity services that range from dial-up access to high-speed access through dedicated lines for individual and corporate customers; and value-added services, including network security services; mail server outsourcing services; Web server hosting services; and content development, distribution, and Internet broadcasting services.

We are recommending the following put writes:


SELL VRTX Dec SYM: VQR-XX
Target Price $60.00 22.5 Put
Potential Profit(10 x = $600.00
Initial Margin $5,566 10 (contracts)
Return on Investment 5.39%
Cost Basis in Stock = $21.90
Days to Expiration = 34


SELL ALKS Dec SYM: QAL-XW
Target Price $50.00 17.5 Put
Potential Profit(10 x = $500.00
Initial Margin $3,948 10 (contracts)
Return on Investment 6.33%
Cost Basis in Stock = $17.00
Days to Expiration = 34
Initial December Recommendations


SELL MYOG Dec SYM: QJV-XV
Target Price $40.00 12.5 Put
Potential Profit(10 x = $400.00
Initial Margin $4,574 10 (contracts)
Return on Investment 4.37%
Cost Basis in Stock = $12.10
Days to Expiration = 34

SELL NFLX Dec SYM: QNQ-XY
Target Price $105.00 27.5 Put
Potential Profit(10 x = $1050.00
Initial Margin $6,539 10 (contracts)
Return on Investment 8.03%
Cost Basis in Stock = $26.45
Days to Expiration = 34

SELL IIJI Dec SYM: IQD-XB
Target Price $65.00 10 Put
Potential Profit(10 x = $650.00

Initial Margin $2,605 10 (contracts)
Return on Investment $9.35
Cost Basis in Stock = $10.00
Days to Expiration = 34


Several additional positions should be added soon.

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