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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: hal jordan who wrote (3559)	4/28/1998 2:50:00 PM
From: J.S.	Read Replies (1) of 164684

Hal, Don't panic!! You don't need to let your puts expire worthless. There are lots of options (pun intended). 1. The general market is in a downturn so AMZN may follow suit after people forget about what numbers they were supposed to beat and focus on the debt and the competition and the lack of earnings ahead. Without the big MO this and other internet stocks are nuttin'. 2. Give it a few days or a week depending on your stomach. If you don't see a downturn in the market and subsequently in AMZN you can "roll over" your puts to June or beyond. AMZN is very volatile intraday. Find a day with little news and only trading action to influence the price. Study the trading patterns of AMZN. I have noticed after a 4 or 5 point move up or down in one day it will reverse as day traders take profits a little after 3:00 PM. Often this happens before noon (lunch)after a big move in the morning. Sell the Mays when the stock is down and buy the Junes when it is up. There are no guarantees of course. Options investing/trading is not stamp collecting. 3. At the very least you can get some of your premium back by selling May 70's or 65's. If you are not approved for spreads at your brokerage, apply right away. It only takes a few days. You limit your upside but depending on what ou paid for your options you can still bring in a hefty profit without losing everything if the stock does not tank. Never lose hope. This is not advice just some strategies. Letting options expire worthless is never good as you know. With options you need options. Please explore all your options. Good Luck! Joe

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