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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST
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To: Paul Engel who wrote (9558)1/29/1997 8:10:00 PM
From: jmac   of 186894
 
If it happened the way you say it did, then youare absolutely correct. I am sure that there were many people who bought IBM puts the day before IBM announced. But, I believe that it was posted on this thread that the buyer did this trade as a hedge to INTC. Why else post on INTC thread.

Whatever the reasons, it was a great trade. Money was made and that's what this is all about.

But, I don't buy the strategy of buying IBM puts as a hedge against INTC; I don't buy the strategy of buying INTC puts as a hedge on INTC or the market; I don't buy the concept that we have started a full fledged correction. If you are buying LEAP puts as a protection of a pending market correction, you better be correct on your timing or you can be correct about the correction and still lose money.
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