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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (586)	11/5/1999 2:34:00 PM
From: WILLIAM C KLEMA	Read Replies (1) \| Respond to of 3770

Did management say they were going to buy or sell 20 mil. shares at the shareholder meeting? We are trading at a below market value are we not?

To: Chuzzlewit who wrote (586)	11/15/1999 12:13:00 PM
From: fellowfool	Read Replies (1) \| Respond to of 3770

I like to sell puts on large cap blue chips when there is some temporary bad news which drives down the price of the stock. Tyco has given me the opportunity to do this. I missed out on the Nov 40 puts last week so today I sold the Dec42.5 @ 2 1/16. (I did own the stock for a few days and sold at a small short term profit. Since I bought on margin, I am more comfortable with a credit to my account rather than sitting on margin debt.) If I am assigned at 42.5 my cost will be 40 7/16 (not including commissions and short term gain). Needless to say, I do not expect to be assigned but if I am I expect to be able to ride the stock up from there. In the past, when I sold longer term puts that were deep in the money, I felt that there were more short term opportunities which I missed while waiting for my puts to expire. Also there was more risk involved if the stock took longer to recover than I anticipated. I am curious as to how you chose the particular strike and expiry which you did. I have been studying the McMillan book for almost two years and am still learning. Thanks for any comments.