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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (93806)	7/11/2002 11:03:55 PM
From: traderjml	Read Replies (1) \| Respond to of 99280

DELL puts sold from 2001 annual report, I think the updated info, has less obligations but could still result in losses of $1 billion, if the stock price does not improve. "At February 2, 2001 and January 28, 2000, the Company also had outstanding put obligations covering 111 million and 69 million shares, respectively, with an average exercise price of $44 and $39 per share, respectively. The equity instruments are exercisable only at the date of expiration and expire at various dates through the first quarter of fiscal 2004. The outstanding put obligations at February 2, 2001 permitted net share settlement at the Company’s option and, therefore, did not result in a put obligation liability on the accompanying Consolidated Statement of Financial Position"