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Technology Stocks : Cymer (CYMI)
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To: TideGlider who wrote (11001)12/4/1997 7:53:00 PM
From: Zeev Hed  Read Replies (1) of 25960
 
Selling puts is not shorting your own stock, it is agreeing to buy from a seller at a predetermined price. I read it at the dentist, the Dec 8 issue of the Times (or was it Newsweek) where hey described the problems (and the millionaires) that MSFT has created with the widespread use of options in their organization (about 21,000 of their 28,000 or so, all from memory have options. They are going into the market and buying shares for thei option program and to lower their cost, they sell puts since there are prices (below the market of course) where they would be buyers anyhow. Selling time premiums lower thir costs. They made $278 MM in this fashion (but the article did not say what was the time span of the activity.)

Zeev
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