Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (34250)	8/27/2003 7:13:50 PM
From: TobagoJack	of 74559

Hello Pezz, Last Night’s Report: I made some interim adjustment in this ‘I bet Maurice is Wrong’ trade Message 18964873 <<May 21st, 2003 (a) Bought a dollop of JMP 2005 January LEAP Put strike 25 for USD 3.8-3.9 /shr; and (b) Short sold a dollop of NEM 2003 December Put strike 30 for USD 3.5/shr for regular pocket money extraction from the big ATM in the market place>> … by closing out the NEM 2003 December Put strike 30 pocket money extraction wager at USD 0.40/shr, and thereby locking-in USD 3.1/shr extraction. I figure I will be able to extract more from NEM, perhaps two more opportunities, but at least one more time, before the JPM 2005 January LEAP Put strike 25 long position matures. This wager is now worth USD 2.0/shr, indicating a paper loss of USD 1.85/shr that is more than offset by the NEM bet. JPM is on the way down, and so the long put position may yet win. Chugs, Jay

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