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

AMZN 233.22

+1.8%

Nov 28 9:30 AM EST

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To: Jan Crawley who wrote (13358)	8/12/1998 2:44:00 PM
From: Oeconomicus	Read Replies (1) of 164684

Jan, perhaps hedging by shorts. $3 to avoid participating on the wrong side of a breakout above 140 on this move seems like rather cheap insurance (eight days is an eternity if you are short in a rally, right?). The writers could be doing it naked or as part of a collar (to protect a long position or create a short). Is there equally large put activity (OTM)? Then again, if you were one of Jim's "Big 6" or whatever he calls them and you were planning on unloading some of your inventory, why not take in $300,000 in premiums knowing that the selling pressure would make them expire worthless. Bob

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