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Technology Stocks : Micron Only Forum
MU 241.14-6.7%Dec 12 9:30 AM EST
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To: John Graybill who wrote (27893)2/6/1998 11:02:00 AM
From: John Graybill  Read Replies (1) of 53903
 
Bought July 35 puts at 5 3/8. I will try to sell
lower-strike, nearer-term puts against them in every
cycle (Feb 32 1/2 in Feb, perhaps) and take that
money and buy more long puts, as many times as possible.

My aim in selling the lower-strike puts is to pick the
strike price that I think MU will close at. This way I
sell the most "hot air" and can add the most to my
position. There are a number of choices I must make:
when to sell, what strike price to use, whether my intent is to sell 100% hot air or whether I want to sell high
and buy (buy back to cancel it out) low at expiration.

I will keep the group informed!
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