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To: Just_Observing who wrote (88845)	4/2/2001 4:42:01 PM
From: LLCF	Read Replies (1) \| Respond to of 436258

<When you have sold naked puts (a bullish bet), you cannot hedge it with another bullish move such as buying the stock. If you indulge in buying stock then you just increase the pain when the stock goes down. > That's called a "Texas Hedge" son..... LOL DAK

To: Just_Observing who wrote (88845)	4/2/2001 5:15:04 PM
From: Cynic 2005	Respond to of 436258

I understood what they were trying to do. That is a bold attempt at manipulation - not hedging. Soft has 20 bil in cash and there are 4.3 bil shares floating in the market. May be they can check a steep decline for a while - assuming they will use all the cash to buy the stock. But, it is a mighty tough task even for them to defend a complete chaos driven sell off. In a scenario like that, they will get the double whammy - more paper loss on the exsting put warrants as well as the newly acquired stock.