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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Mark L. who wrote (2045)	6/24/1999 11:00:00 AM
From: Mama Bear	Read Replies (1) \| Respond to of 2693

Mark, I sold Jan 7 1/2 puts for 4 shortly after I entered the position. It would have been 4 3/8 to buy them at the time, with the common at 8. The volatility may make the price equitable, it doesn't seem to me it's a good trade to need a stock to fall 60% before you're in the money. Now, I don't claim to be a sophisticated or experienced options player. I understand that it limits risk, and also allows the possibility of multi-baggers playing the downside. But for me to pay 1 1/16 for July 10s I have to think that it's going to approach 10 in that time frame. To me, if I really think that, I'd prefer to short and take the extra points. Of course with IRID there is the added problem of borrowing shares. I still couldn't find any more this morning. If this is really a squeeze, folks must be boxing rather than closing. Barb