Selling Puts: Have Cash Will Travel Message Board

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Strategies & Market Trends : Selling Puts: Have Cash Will Travel

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To: OX who wrote (981)	1/24/2000 6:18:00 PM
From: taxman	Read Replies (2) of 1235

i owned 20 contracts long of NCS HEALTHCARE 5 dollar puts which expired last friday. i wanted to sell to close, but the market would not pay intrinsic value which i thought was fair. the market maker was likely on the other side. since i was stuck with the puts, i had to exercise, shorting the stock. got lucky--earnings warning, stock down 28% today. lesson is don't be afraid to exercise if market maker doesn't play fair. it can always be closed out on monday in the regular market. regards

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