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To: chic_hearne who wrote (88777)	4/2/2001 3:30:02 PM
From: KeepItSimple	Respond to of 436258

>kis, are you sure Softie hasn't started to take steps to hedge the poots? I am 100% sure that some group of individuals with nearly infinite pockets has decided that microsoft cannot go below 55 ever again, period. they are willing to spend any amount of money needed to keep it above this price. What people are failing to realize is that the reason MSFT is the only tech stock that hasn't gone down over the last 30 days is because they have 20 billion dollars of cash in the bank! They can just sprinkle a little bit of that each day as market buys and keep the stock levitating wherever they want. The cost of doing that, versus the cost of having to pay out jackpots on all those poots, is clear. BTW- I think the options guys are on to this too. Try selling a put under 55. No premium anywhere. It has evaporated.

To: chic_hearne who wrote (88777)	4/2/2001 3:35:41 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 436258

From the link you posted: <<if you'd read the latest 10q or have listened to the cc you would know that they are BUYING back stock and hedging the puts. >> Say what? they are hedging naked puts by buying stock? I never heard that before - unless of course if he meant that they are being "put to" by the hedgers. If they are being put to, at the average warrant price of about 74 and market price of 60, my estimate was that they are down about 8 bil! Not a chump change even for softie!