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Politics : Formerly About Applied Materials
AMAT 223.95+1.7%Nov 21 9:30 AM EST
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To: Kevin Hay who wrote (27280)12/21/1998 2:26:00 PM
From: Jacob Snyder  Read Replies (1) of 70976
 
bought more nvls puts today,
June 45s this time,
to add to my collection.
Double or nothing......no, I already did that.... OK, triple or nothing.

Kevin: If October was the bottom of a V-shaped downturn, 1996-style, we're both going to be out a lot of money. If October was just the beginning of a prolonged U-shaped bottom, then we're going to see a series of false rallies, and there will be an opportunity to make a lot of money shorting/buying puts at the top of each one.
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