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Technology Stocks : Ascend Communications (ASND)
ASND 207.87+1.2%3:07 PM EST
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To: James A. Shankland who wrote (29233)1/4/1998 3:03:00 PM
From: Glenn D. Rudolph   of 61433
 
Buying protective puts is such a hedge play, but,
in my opinion, rarely a good one. The people writing those puts are not in the charity
business; nor did they just fall off a turnip truck. The puts are priced accordingly.

That is for sure. I cannot tell you how many puts I have written over the years that expired worthless to the owner. 1997 was the only exception.

Glenn
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