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Non-Tech : RAINFOREST CAFE
RAIN 7.550-5.3%Dec 23 3:59 PM EST
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To: Dennis Vail who wrote (4030)2/19/1998 3:40:00 PM
From: Mike Naiditch  Read Replies (2) of 4704
 
Company is short Feb 15 puts.

Last week, as RAIN showed continued strength, I began to wonder whether the company would be eager to buy stock at $15 (via assignment of their short puts).

Given that the $100,000,000 debt offering was cancelled, I figured that the company would be thrilled if they didn't use up precious capital for a share buyback. If RAIN closes above $15 at Feb expiration, the company would be off the hook.

Perhaps the recent rally has more to do with fundamentals, but in my business, we learn early to be cynical.

Mike Naiditch
towertrading.com
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