Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (169022)	5/30/2002 11:02:43 AM
From: Tommaso	Read Replies (4) \| Respond to of 436258

I was thinking: There were some enormous transfers of wealth via LEAP puts on the likes of Yahoo, Amazon, CMGI, and so on. I got some of it, though my timing was always far from perfect. But I don't remember any third-party failures do deliver, and there must have been some frightful losses for people writing puts. Also, I think that in the 1987 debacle everyone got paid what they were owed. Of course, there was not nearly so much speculative paper out then as there is now. But I do take your point. Indeed, more out of instinct than anything else I sold a large part of my put position last September because I had this uneasy feeling that I was making too much money too fast. Then I put it back in much sooner than I should. So I hope I will be able and content to close out the puts good and earlie. Now at this point I wish I had not lightened up at all on my NEM calls. But this investment business (gambling, I mean, when it comes to options) is like trying to get to shore jumping from one iceberg to the next. The currents are always changing and every so often you fall in.

To: Earlie who wrote (169022)	5/30/2002 11:07:24 AM
From: Tommaso	Read Replies (1) \| Respond to of 436258

I just got a PM from someone saying they knew someone who was loaded with puts in 1987 and never got paid. Anyone else know of such a situation?