Leverage Alert: Delta

ALL LEVERAGE SERVICES

FRIDAY, JANUARY 21, 2005
CLOSEOUT INSTRUCTIONS!

CANCEL ANY OPEN ORDERS AND PLACE A DAY-LIMIT ORDER TO SELL
(TO CLOSE) THE DELTA AIR LINES JANUARY 2005 5.00 CALL (DALAA) AT 0.20 OR
BETTER.

THIS OPTION EXPIRES TODAY. WHILE THE OPTION IS CURRENTLY OUT-OF-THE-MONEY
AND IS BID AT ZERO, IT IS POSSIBLE THAT IT COULD QUICKLY MOVE IN-THE-MONEY.

AS SUCH, IF THE OPTION MOVES IN-THE-MONEY TO A DEGREE THAT WOULD ALLOW YOU
TO RECOUP MORE PREMIUM THAN YOU WOULD PAY IN COMMISSIONS, YOU SHOULD EXIT
THE POSITION BY EXECUTING THE SALE PER THE INSTRUCTIONS ABOVE.

THIS POSITION IS BID AT 0.00, ASKED AT 0.05.

DAL IS CURRENTLY AT 4.99.