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Technology Stocks : Micron Only Forum

MU 242.44

+2.2%

2:20 PM EST

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To: Land_Lubber who wrote (42584)	2/3/1999 9:46:00 PM
From: John Graybill	Read Replies (1) of 53903

If "Mister Spread" didn't unwind his kilo-contract at the late lows yesterday or (yep I'm gonna say it again) at the 10:30 low today, he got killed by today's close. Looks like yesterday's closing price for the 65 puts was 1 1/2, and the 75's were 5. Unwinding would have yielded 3 1/2, for a profit of 5/8 per share over his 2 7/8 purchase price, about $60K. He would have done better than that at the lows yesterday, of course, unwinding for as much as four bucks and change. Today's closing price for Feb 65 puts are 5/8 x 3/4; Feb 75 puts are 2 11/16 x 2 3/4; unwinding would get him just under two bucks a contract. Ouch.

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