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To: AllansAlias who wrote (18905)	9/15/2000 3:33:06 PM
From: Archie Meeties	Respond to of 436258

Time to sell on the PPT's dime. -g-

To: AllansAlias who wrote (18905)	9/15/2000 3:47:04 PM
From: LLCF	Read Replies (2) \| Respond to of 436258

<In my daytrading timeframe dAK> Yea, I hear you... just blowing steam, we have different styles. I'm a put owner, awaiting an 'event': By definition when you buy insurance [Options] you're betting on [protecting against] and 'event'... where prices of stocks are no longer 'continuous'... ie. there are 'gaps'. In other words if markets, stocks, whatever, always traded at each price up and down in size [perfect liquidity?], there would be NO NEED for insurance [options]. Or if I may... if you could replace [or call the mason over to do it] each brick in your house as the quake shook them lose, you wouldn't need insurance. Sound silly?? In fact assuming that you can just sell your stocks to avoid losses is exactly the same thing... probably worse. How worse?? Well, we know disaster relief would give you something on your S.F. bungalow... although many people believe Greenspan would simply avoid this version of a financial earthquake, the fact is you'd probably have your hand out hoping. In short THE WHOLE PURPOSE OF OPTIONS IS TO PROTECT AGAINST THE 'GAP', OR NON-CONTINUOUS PRICES/LIQUIDITY. In this age of mega-liquidity this fact has been lost on the causual observer as he/she perceives no need for put options...... lately. That's my attempt at the post of the day. DAK