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Technology Stocks : Aspect Telecommunications (ASPT)
ASPT 0.00010000.0%Oct 22 9:30 AM EST

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To: corporal spewchunks who wrote (561)11/19/1998 1:24:00 AM
From: Herschel Rubin  Read Replies (1) of 2018
 
"If I am right, and the puts were done at about 18 1/2, the buyers wouldn't actually begin to lose money until they declined in value to about 11 1/2. I just checked the bid and it's at 11 7/8. So I would expect a spirited defense of the 11 1/2 level. After Friday, it won't matter. "

HOWEVER, John, I think you may be omitting one key point: The put/hedge owner is not only concerned with NOT showing a loss on those puts, they'd like to see the puts expire as deep in the money as possible.

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