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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (32553)	9/22/1999 7:46:00 AM
From: SJS	Read Replies (1) \| Respond to of 70976

Jacob, I play options fairly consistently and I agree with your comments about waiting waiting and more waiting. These guys are the next thing to be "fixed" by the SEC. Options that trade at 1/16 bid, 5/16 ask? Plus commissions? HA! Ridiculous. Options that trade with a 2 points spread? Ridiculous. Try this: Bid at 20 for the SOX October 540 puts, and ASK at 22? So hypothetically, I TRY to buy 10 options at 21 (I am a reasonable guy......allowing myself to be $1000 in the hole before I start.....) but the money-crazed MM at the Philly won't let me. So I wait and wait and wait some more, and he finally condescends to sell them to me at: 22 (after the SOX down moves to value the option AT 22....) and now I am 2,000 in the hole already...... Plus commissions? Absolutely ridiculous. Steve PS: Selling doubles that pain, even after a profit.

To: Jacob Snyder who wrote (32553)	9/23/1999 12:41:00 AM
From: Robert O	Read Replies (2) \| Respond to of 70976

If you 'win' 3 out of 4 times and the 4th time loss doesn't swamp the absolute dollars from your wins... how many yacht are tied to the pier? This sounds like easy money, kudos. Naz doesn't need to be perfectly flat to never move enough to offset your time premium. If the bid/ask alone gets you for 10%, what's a 10% move other than 'even.' Also, you indicate a buy strategy only when you 'think the stock will at least double over the life of the call.' Gracious, again if you can predict a doubling... wow, holding shares or options should do VERY well, I just can't seem to pick those in advance. CSCO isn't 'magic' its stock price, though, IS magical. Sometimes in this crazy world, valuation (whatever and however we all agree on what that is) is hard to get at through the most sophisticated of models. I doubt ANY quick ratio can encapsulate it, though. Today: AMAT and CSCO once again bouncing up towards their recently hit 52-week highs. Please, forget about arguing, I wish you (and the wildlife) the best, truly... at some point I've just learned to let the market have its way. Holding and watching technology share prices march on and on over time makes the most sense for me. Good trading. RO