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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: JBW who wrote (76895)3/2/2000 1:31:00 AM
From: IceShark  Respond to of 132070
 
You mean besides the guys that sold you those puts and are now passing large square bricks through a small round hole? -g-

Even if the markets come unglued, you do have a contract to sell at a given strike at any time up to expiration. Exercise the contract and put (sell the shares) and turn around and buy a like number of shares ( actually you want to do it the other way around to be sure about price). Cross the trades and you are out with your tidy profit. That is if you can get through to your broker. -g-

The real problem comes when "they" declare all options null and void. Unlikely, but not out of the question.



To: JBW who wrote (76895)3/3/2000 11:15:00 AM
From: Knighty Tin  Respond to of 132070
 
JBW, The shorts will have to buy. Their brokerage firms will be closing them out quickly to protect margin as their assets disappear. And we don't have to sell the puts. We always have the option of shorting the stock into the other guy's portfolio. However, we can expect the puts to go to intrinsic value fairly quickly.


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