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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bakunin who wrote (97329)	1/24/2000 7:48:00 PM
From: Elmer	Respond to of 186894

Re: "Intel grants options; options have worth. You may argue about how much, or how to book the expense, but the existence of a cost seems prima facie clear. An acquisition for stock may involve no cash expense, but is hardly free. Options are the same. Any inoculating transaction is a hedge; hedges, too, have cost. In your hypothetical case, Intel has created a synthetic short put position while gifting time premium to the employee. -mb" Michael, I asked you twice just exactly where the cost is to Intel and you couldn't come up with an answer twice, other than a lot of handwaving and foot shuffling. I won't bother asking a third time because it's clear you just don't know. EP