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Technology Stocks : America On-Line: will it survive ...?
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To: peacelover who wrote (8499)3/4/1998 9:11:00 PM
From: Sowbug  Read Replies (3) of 13594
 
. Sure enough, I said March 95 puts by mistake. It is actually July 95 puts.

Much better -- I was wondering which planet you were calling from! (Probably one of a higher intelligence, where AOL is a little more rationally valued.)

I still think you'll be lucky to make money on anything but an event like tomorrow, though the puts ought to go briefly to $10-$12. It's clear you're betting on a collapse of the stock, so you were speculating anyway, but I'm more conservative. I figure there will be a runup after the split, and then you'll never, ever see $47.50 (your post-split strike price) again.

Getting out at $10 isn't bad. If you bought in when AOL was pushing $125, I'm guessing you stand to get a quad-bag on your options, which is pretty good.
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