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Technology Stocks : Apple Inc.

AAPL 271.50

+2.0%

Nov 21 9:30 AM EST

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To: J R KARY who wrote (7040)	12/26/1997 5:42:00 PM
From: Patrice Gigahurtz	Read Replies (1) of 213173

J R Kary: Regarding puts/AAPL: I've never bought a put. I have though been considering it as a means to protect against big losses. I have read that it can be an insurance policy. However, puts have expiration dates, so I would have to keep buying puts. Theroretically, at some point I'd have a lot of $ spent buying puts. I wouldn't want to have more money spent on AAPL puts than the stock I bought. Thus, when do I buy the AAPL put ? I assume I'll buy them when/if I suspect there will be turmoil ahead for Apple ? However, I got in at $13 3/8th during some turmoil already. How do I know theres more turmoil (negative) ahead ? I guess I'm saying sure puts can be an insurance; but when do you buy the put ? Thats the tricky part for me as again; puts cost $$ Regarding tax loss stuff: I haven't liked very much carrying large paper losses across that January 1st deadline. Thus, I clear all that out against profits so that I can begin the new tax year with stocks that are not too below my initial entry point. I don't mind carrying paper profits across the January 1st deadline, but losses; thats a different story. Why don't you think that 2mill was a "buy" ?

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