Dennis,
A delinquent response to an old message, but you've been a great help to me as well.
FYI, I'm still writing montly puts on ASND. I'm currently waiting (hoping) for a number of July 40s to expire worthless.
I'm also waiting for expiry on the following additional July puts: CIEN 60, PAIR 15, SLB (Schlumberger) 65 and JBL 30.
I also really like the CIEN/TLAB arbitrage. That is, you buy CIEN and short an equal amount of TLAB. As this is a 1 for 1 stock swap, you will end up both long and short equal amounts of TLAB. At that point, the spread (currently about 1 1/2 points) will be gone. If you can get 1 1/2 points spread on this arbitrage, it is worth a try.
I've lost on AMZN and AOL, but fortunately I've been boxed on both for what seems forever. If only I could call a top, I would sell the long position and then ride down the short position. Failing that, what I've done on AMZN is to convert the long shares into long calls. (Creating a synthetic put.) That, at least, allows for the opportunity to profit should AMZN suddenly drop off a cliff, and through the strike price of the calls. (They would expire worthless, offset by the short gain.)
Anyway, just wanted to say hi! Best to you and enjoy the 4th,
Gary Korn
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