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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (18653)	2/18/2001 12:49:36 PM
From: Dale Baker	Read Replies (1) \| Respond to of 18691

I will be seriously surprised if AMZN gets away with issuing much more debt in any form, not after ETYS bit the dust and showed that a big online retailer can indeed go bust. I wouldn't want to be the underwriter trying to push those bonds in the open market, that's for sure. I am sitting on July 20 puts that should return 50-100% profit by then unless AMZN is bought for somewhere north of $20 by someone (which I am doubting more and more since AMZN assets will go to bondholders first in a bankruptcy - no reason for someone to buy them before then). A take-under would be more likely if the creditors were applying too much pressure and Bezos found a white knight to bail him out. BTW, do you have any timeframe in mind for WTBK to move up?