Henry D,
Gotcha! Good, you caught that one! Actually I made an error when I said 9 months, it should be about a year. You see, when I Post, I don't Proof-read it too much. Maybe that time I was so busy buying and selling at the same time. I do 20 to 50 trades a day during those times. Anyway, in many Posts later, people here learned that, among other things: ---
1. In Aug of 1996, when AMAT was priced around 23, I bought (not only in one occasion) a number of Jan 1998 30 Calls (LEAPs that when I bought them have still 17 months to live, I remember I described them as such). I got those Options at an average of 4/sh. Later, those Options were priced at 80+/sh when the stock reached the Top price of 108 3/8 on Aug 20, 1997.
I admitted repeatedly in this Thread that I did not keep those LEAPs all the way to 80+/sh; I disposed them along the way Up and replaced them with Short-Term Options. By doing that, I did far better than that 20 times said LEAPs reached that time.
2. From time to time I make it plain that I switch from LEAPs to regular Options when I want more Pizzaz in my investments --- a kind of move that I always say I don't recommend to Threaders.
3. Sorry if I got you confused. Even me, if I find such error, I'd be suspicious. Let me assure you that my intentions in saying a "4/sh LEAP could become 80/sh LEAP" is to help others, especially those Investors who have little money to invest but can get spectacular returns by believing it could be done! |
