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Politics : Formerly About Advanced Micro Devices

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To: Jim McMannis who wrote (74797)10/10/1999 12:58:00 AM
From: Elmer  Read Replies (1) of 1573493
 
Re: "Just had to mention the stock price again, eh' Elmer?
Paul is long and Yousef is short and they are both making money? "

Ironic isn't it!

Paul bought in at around $15 and sells covered calls. Yousef shorted AMD in the high $20s. I just keep selling puts. Looks like I probably will be assigned this month because I wrote a load of Oct puts @ $17.5 & $20. I'll write CCs on those $20s and sell more $17.5s for Nov.

The secret is realizing AMD will never be a success so the stock won't go anywhere, but there are lots of zealots out there who can't figure that out so they'll support the price. Stuck in a range with good options premiums.

EP
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