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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: wlheatmoon who wrote (19844)2/16/1999 3:22:00 PM
From: IceShark  Read Replies (1) of 86076
 
Oh boy neeked puts - I'll let WrongWay give a complete answer but you probably want to steer away from this, and hopefully your broker won't let you do this. -g-

BTW, 1 put contract is for 100 shares and is quoted in 1/100 price. So the value you are hanging your butt out on is $6.125 x 100 x 10 contracts = $6,125.00. McMillian tells a funny story about a fund manager who didn't know this and found himself in a losing position that was 100 times bigger than he thought it was. GULP!
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