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Technology Stocks : Micron Only Forum

MU 234.19

-2.2%

3:59 PM EST

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To: Lazlo Pierce who wrote (31011)	3/22/1998 7:22:00 PM
From: Skeeter Bug	Read Replies (1) of 53903

david, options are a different animal. it is always ez to look back in hindsight and say, "what the..." if you think they are cheap now then you have the opportunity to buy a lot more. i'm letting mine ride right now. i had some txn puts that i bought at $3 3/8. i sold at $1 3/4 just before the asian crisis hit. poor performance, huh. they peaked out about 4 weeks later at $28. of course, when the specialist saw me sell my 3 contracts he took the stock down 40 points. i'll bet larry tipped him off. buying out of the money puts really means you expect to lose maybe 50% of the time (and wins and losses tend to come in spurts). when you win you have to hold for the triples and quadruples to make it worth your try. don't cry for my txn puts b/c i owned a double full portion of mu that quadrupled during the same time frame. this more than made up for 12 months of losses and breakevens on mu puts. this isn't something your avg day trader understands. i put up 1 portion to get 3-4 portions back. they put up 30 portions to get 1/2 a portion. they are like attorneys. they don't know how to lose battles to win the wars. to them it is the batting percentage that matters. to me it is total return that matters. they think kerry is dumb for playing puts when his portfolio is up 200-300%. so be it. kerry's batting percentage is lower than theirs but he hits a lot more home runs. he also wins the games :-)

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