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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 234.06+0.4%12:23 PM EST

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To: Skeeter Bug who wrote (23985)10/31/1998 3:12:00 PM
From: Dwight E. Karlsen  Read Replies (3) of 164684
 
Skeeter, yes, time prem in puts is too much, given the brokerage backing of tulip sales. If the thing sets a new high next week, look out. Could easily float up to who knows where. I'm going to resist the urge to buy puts for now. $145...no reason why not. There is no reason for the stock to be at $40, 50, 80, or $100, much less $126, so I'm not expecting reason to prevail just yet. At some point insiders will begin dumping all they can, and that will help keep the lid on, and set the stage for the next downdraft with the general market cycle.
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