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

AMZN 239.16

+2.1%

Jan 23 9:30 AM EST

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To: Paul Engel who wrote (27943)	11/24/1998 12:09:00 AM
From: Sowbug	Read Replies (2) of 164684

I just have to share this fish story with the entire thread. Last Monday I bought 10 November 125 calls at 4 3/8 ($4,375 initial investment). I got terrified when they dropped intraday to about $3, and resolved to sell them the next day at whatever I could get for them. That night Amazon announces its video sale news. The next morning I sleep in until 1/2 hour after market open, and am overjoyed to sell at $7 3/4 (net $7,750 - $4,375 = $3,375 minus SEC fee and commissions). Of course, by the end of the day those weakling calls hit something like $29, and by the end of the week $55. Aargh! A possible profit of $50,000 in a week! I'm not complaining about making $3K in a day, but you just have to marvel at how close I came to that month-long vacation in Bora Bora!

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