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Politics : Formerly About Advanced Micro Devices
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To: ajbrenner who wrote (51231)2/27/1999 10:02:00 PM
From: Elmer  Read Replies (1) of 1583507
 
Re: "If I understand you correctly you have sold naked puts on AMD at various prices. Essentially as the put seller you are betting that the price of AMD will rise or at least stay the same so you won't loose your premium."

I hope Paul won't mind if I stick my nose in here. I too have been selling Puts on AMD (I own a few shares now too). The Put position is Jan $10s. I wrote quite a few contracts because #1 I think there are enough suckers out there to keep the price above $10 and #2 if shareholders wise up it's still worth $10 in breakup value. I got 15/16s for the put. Why would anyone buy this stock outright when you can write puts on it? To write puts you need substantial assets. I suggest you do like I did and invest in Intel. You'll end up with substantial assets. Investing in AMD is a good way to end up with a Million dollars, that is if you start with 2 Million.

EP
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