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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Sir Francis Drake who wrote (25920)	7/13/1999 11:53:00 AM
From: Teflon	Read Replies (2) \| Respond to of 74651

Luckily, I am sitting on the shares as well! BTW, Morgan, I don't sell any Puts unless I am willing to buy the underlying shares at a price that would reflect the premium I would have to pay at a best guess low trading point on the stock. Of course, if the Market sold off to extreme levels, I would get screwed on the price, but I maintain that I would be buying shares that I have no problem holding for twenty years. So for me, there is in effect little downside risk. And frankly, I never hold until expiration. I usually buy back the Puts prior to expiration. Also, most importantly, I can afford the worst case scenarios if they get put to me. To me, with the Bull Market we are enduring, Put Selling is the best way to play options in this market. Just my "Opinion", obviously. Teflon

To: Sir Francis Drake who wrote (25920)	7/13/1999 12:02:00 PM
From: Teflon	Read Replies (3) \| Respond to of 74651

For the record, Morgan, I've been selling puts on the following issues primarily with a October expiration: MSFT CNET GMST QCOM These are the safest Option plays, IMHO. I have sold 100 MSFT October 85 Puts over the past 45 days, and I am deciding whether I start to cover them over the next 2-3 days. I have made a fortune on these Puts. Its safe to say, however, that this strategy embraces a significant amount of risk, and I certainly do not recommend this strategy for the faint of heart. And of course, you have to be able to cover! But it works for me, at least so far <vbg>. Teflon