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Technology Stocks : America On-Line: will it survive ...?
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To: yard_man who wrote (3140)5/16/1997 11:29:00 PM
From: James F. Hopkins   of 13594
 
Hi Barry: On writing puts..I'v done it..last year I was convinced
AMD was a good buy at $14 and entered at $14..she fell..I held
and wrote puts..because I was willing to double up ..which I did
and wrote more puts..I doubled up 3 times on that stock before
she took off..my broker told me I was nuts..but when she hit
$20 he bought some <G>...
With AMD I was convinced..as I was in under her book value to start
with..she went all the way down to 10.25..and I sold one set of
puts that didn't get exersized..each time I used the put money
to help me pay for the stock..and help me reduce my nut..as far
as getting burned..no more than if you owned the stock..I also
did this not long ago on PSIX..but have since bought my puts back
when she poped up..and when she was way down I bought calls too..
and sold them on the pop up as well..I went into PSIX at 7..I'm
out of her now..as she seems hell bent on staying in the doldrums
but I made a few dollars..stock has to have good book value
for me to write puts..but there is a time and place for it.
Most of what I read that others are saying all adds up..you got
to like the stock..and be able and willing to afford her at the
strike price ( less the premium you collect )..my self I always
use it only if I'm already long and want to average down.
Jim
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