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

To: taxman who wrote (30426)	10/5/1999 5:11:00 PM
From: Teflon	Respond to of 74651

No i have not, taxman, but I don't think it's an impossibility. The key word here is "yet". Teflon

To: taxman who wrote (30426)	10/5/1999 5:18:00 PM
From: Gerald Walls	Read Replies (1) \| Respond to of 74651

for example a 40 put with the stock at 41. why would someone sell to you at 40 when they can sell on open market for 41? Someone may want to dump a large position that would tank the stock if they sold it immediately and would take too long to shed slowly. They can exercise to dump the shares and be done with them. McMillan (sp?) talks about doing just this after the market tanked on a Friday in one of his Options books. They exercised some out-of-the-money puts to ditch a large position. On Monday the stock gapped down below the strike and continued to plummet. This happened on a quaint little October day in 1987.