To all - a GSTRF post I just did "over there" (re : us buying G* handsets).
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Subject: Globalstar Telecommunications Limited GSTRF
To: djane
From: Jon Koplik
Jun 18 1999 11:43AM EST
Reply #5245 of 5245
How all of us GSTRF fans can "stomach" buying a G* handset (that we really do not need
at all, but just want to test out, and play with).
I have almost no conceivable legitimate need for a Globalstar handset, but I really want to
get one.
My wife initially thought this was really stupid. (She also still thinks this is really stupid).
First, I thought we would be stuck paying about $750 for the handset, and about $25 per
month (?) for a zero minutes per month plan (and then also maybe 2 or 3 calls per month).
Then I heard that the handsets might be sold for as cheap as $350 or so.
So, if $350 is correct, the handset plus a year's worth of service and the occasional
pointless calls would cost about $700.
Okay, here is the plan -- when GSTRF is (we think, anyway) low, we sell a few naked
short put options on GSTRF. (We just did a bit of July 17 1/2 puts a few days ago).
If GSTRF manages to go sideways or drift up over time, and we actually do this 12 times
per year, we will get our $700 (courtesy of the put option buyers), and buy that handset.
Jon.
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