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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (963)	10/13/1999 7:34:00 PM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 2794

Hi Clark, happily retired or at least trying to. I have a few misguided friends who have some ideas for getting me to go back to work but so far I've fended them off :) I don't recall that exact Greenspan quote but he is probably talking about greater coordination among the big central banks and perhaps a more proactive stance. It might be a justification for Long Term Capital. I may be misunderstanding what you mean by "puts" re Ashanti. TO me a gold put would be just the right to sell gold. With gold higher any puts written earlier this year would be unlikely to be exercised and the writer would just collect the premium. It would be a writer of calls who would be in trouble with gold higher. I had heard that Ashanti was having problems but didn't pay to much attention. From the sound of what I heard it sounded like they didn't have the gold to satisfy their obligations, that would make me think they wrote calls not puts. Perhaps you could clarify what's going on for me. Or point me to an article. Henry