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To: lurqer who wrote (2560)	2/9/2000 12:29:00 PM
From: PAL	Read Replies (3) \| Respond to of 8096

When you sell put to buy stock at cheaper price, two things can happen: a. the stock is a real winner, you probably won't get it. just keep the premium. if the stock is real strong, why not buy the stock outright (you can buy call s/t but the premium is expensive). b. if the stock is turning south, you don't want to catch a falling knife. in essence you are buying a stock that nobody wants at that time. just ask those who sold put on CYMER a few years back right before the CEO suddenly canceled an appearance at Needham conference. (Craig Schilling who founded QCOM thread might remember that incident). paul