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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Tommaso who wrote (169030)	5/30/2002 11:11:14 AM
From: KeepItSimple	of 436258

The transfer wasn't as big as you might think. As you will recall, the premium on options back in the mania days was GIGANTIC. Tech trash was going up 20 and 30 points a day, and as such an ITM put or call would often sell for 30 dollars or more. Leap puts and calls were insanely expensive, even if you were buying a 2 year LEAP put with a strike of 20 bucks, while AMZN was trading at $400 a share. ----------------------------------------- There were some enormous transfers of wealth via LEAP puts on the likes of Yahoo, Amazon, CMGI, and so on. I got some of it, though my timing was always far from perfect.

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