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Politics : Formerly About Advanced Micro Devices
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To: Elmer who wrote (68888)8/15/1999 1:14:00 PM
From: Kevin K. Spurway  Read Replies (1) of 1572960
 
Re: "Kevin I realize this is probably over your head but read it again. I said I SELL puts. I expect they will expire worthless. If not then I buy AMD at a discount."

I know exactly what you do! You sell puts, but someone has to buy them, right? You called these people suckers--but they are the ones gambling AMD will go DOWN.

I know this is hard for you to grasp, we've been over it before, but if you SELL puts, then it's best for you if the underlying (stock price) goes UP. If you buy puts it's best for you if the underlying goes DOWN.

I think your strategy is great for someone who is cautiously optimistic (near term neutral, long term optimistic) on AMD. I don't doubt you've been very successful with it. I just find it funny that you think the people buying your puts are the same suckers as the ones who drive up the price of AMD every year. They're not--they're a whole different subset of suckers!

Re: "I've been making money month after month after month on AMD with no money out of my pocket. Too bad you can't say the same."

That's okay, I've made some money on AMD and I'm guessing I'll make some more. Not much, though, because I think there are better opportunities out there right now for my capital, and time, as they say, is a-wastin'.

Kevin
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