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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (22017)	4/2/2000 4:57:00 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 54805

Ammendment to post #22019 (LEAPS strategy discussion with Tinker): 3/31 SYMBOL STRIKE EXPIRY CLOSING BID* DECAY ZRGAD $20 1/01 $3.75 0 YVQID $20 9/00 $2.75 -26.7% YVQFD $20 6/00 $1.75 -53.3% YVQED $20 5/00 $1.0625 -71.7% YVQDD $20 4/00 $0.3125 -91.7% In the event the price of the underlying equity, gstrf, remains constant, ZRGADs, which have 9 months remaining, will lose over 26% of their value when they have 6 1/2 months remaining, and over 53% of their value at 3 1/2 months. Wouldn't you characterize that as "extreme dissipation"? * source: Fidelity Investments

To: Uncle Frank who wrote (22017)	4/4/2000 6:32:00 PM
From: tinkershaw	Read Replies (1) \| Respond to of 54805

There are large differences between owning the book, reading the book, and understanding the book, Tinker. Let's examine your premise by examining the time premium on FOM gstrf calls: Page 295, bottom of the page. "This should technically say 'eight, seven, or six months left. This is the time that ordinary LEAPS convert into ordinary options." I haven't had time to read anything on the thread until now due to mid-terms. And it really isn't that important to me, but when you talk about read the book, understand the book, et al, maybe you should read what I said earlier and what the book says. I said around the middle of the year. What is inconsistent with that and 6, 7, or 8 months left? No, UF, you went out of your way to personally degrade my credibility. In fact you interpreted my comments in such away as to have no other motivation. No big whopping deal, but that is what happened. This is the end of it as far as I am concerned and the thread goes on as it should. Tinker