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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: freeus who wrote (9729)	7/9/1998 4:36:00 PM
From: umbro	Read Replies (1) of 164684

Freeus, consider buying out of the money (say 120) July calls, and cover them on Monday. If you're short 500 shares of AMZN, then by 10 July 120 calls, to offset some of the delta in the calls vs. being net short. With commish, slippage, and time decay, you may lose as much as $1.50/share or more (depends on what they do with option volatilities), but you'll be market neutral and you can rest easy over the weekend. freeus wrote: I am beginning to rethink that. I may not be able to reshort on Monday due to no shares to short?????? What do you think?

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