Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 213.36

-3.3%

3:59 PM EST

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To: Gary Korn who wrote (29220)	1/4/1998 2:51:00 PM
From: Glenn D. Rudolph	of 61433

You may be right, however, I'm not good at chewing up assets with downside insurance. I've found that puts fail if (1) the stock rises or (2) the stock idles. I think they only help if (3) the stock drops fairly sharply. This has happened to me when I've done protective puts. That is, the stock idled and slowly, too slowly, drifted lower until the puts expired worthless, costing me money. I guess I would have been happy (or at least protected) had the stock really tanked. Gary, I never buy protective puts. I have not bought them for 15 years or so. The stock action in 1997 was the only year in which I wish I had bought them. My normal approach is to write naked puts as I did in 1997. This has worked for what seems like forever. 1997 was a very bad year for me but I believe if I took all the premium I received by writing naked puts and not buying protective puts over the years, I am way ahead. Glenn

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