PSFT - 1997 Outlook [closed thread] Message Board

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Technology Stocks : PSFT - 1997 Outlook [closed thread]

PSFT 0.0001000

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Oct 29 5:00 PM EST

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To: AlienTech who wrote (285)	9/6/1997 1:00:00 AM
From: Chuzzlewit	of 940

Something for all you high rolling option players to think about. When PSFT announced earnings last quarter, I would have sworn that the stock would reach the 70's in short order, but instead it dropped to 52. I think Joan Graffius said something about options being a zero sum game, and she's absolutely correct, but I think she's understated the problem. When you net out transaction costs, you've got a negative sum game! You're not investing in the company, you're gambling on unpredictable price swings and the major unknown of investor expectations. To my mind, the only reasonable options to diddle with are those to establish hedges against a long position. Okay, now that I've alienated most of you guys, I'll go back to sleep! Regards, Paul

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