Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Smart_Money who wrote (60158)	5/2/2002 1:41:11 AM
From: Zeev Hed	Read Replies (1) of 99280

MSFT had (might still have) a consistent program of selling naked puts on its shares, as a part of buy back programs, in place. For a number of years they made a lot of money on that (always collecting the premiums with no shares put to them) and no one complained, in the last two years they lost some money on that and suddenly everyone was complaining, the same probably with Vivendi. If you have to buy your own shares for option program, selling naked puts is the cheapest way to do that. Zeev

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