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Technology Stocks : Micron Only Forum

MU 237.16

+4.6%

Dec 5 3:59 PM EST

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To: Lazlo Pierce who wrote (31011)	3/22/1998 4:51:00 PM
From: DavidG	Read Replies (1) of 53903

David A little lesson in buying puts for me, and anyone else interested. I bought the April 30 puts about 6-7 weeks ago, when MU was selling for ~ 35 3/4, the price I paid was 1 9/16. Today, with the stock selling @ 30 1/2 , the puts are now 1 11/16 x 1 3/4. So the stock has fallen 5 1/4, and the puts have increased by ~ 3/16. Talk about not taking advantage with out of the money options! Thank you for your comments, Pat and I have been trying to tell the forever bears for some time that out-of-money puts are a foolish bet but they just don't listen. ..SB bought his MUPFs for about 1 5/8 if I recall and showed him how if he kept his PUTS until expiration the stock would have to be at 28 3/8 for him to break even. They just don't listen but maybe you can help some others who are just interested in making money instead of losing it.<g> I believe it was Tim who bought in-the-money PUTS of MUOH for 4 1/4 and just sold them for around 9 for a nice profit during this down turn...Now he did pick an earlier month which carries more risk, but his gain wasn't that much more...Pick the timeframe that allows you to sleep at night. Good Luck Trading DavidG

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