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To: j g cordes who wrote (15055)8/4/2002 3:31:22 PM
From: Jurgis Bekepuris  Read Replies (4) | Respond to of 78525
 
Jim,

Sorry, no go. Dell has put obligations to buy shares... at $45 or so. And they have to do this whether they want or not - the put buyers are not going to allow puts expire in money. Dell can then retire the purchased shares, but the problem is they would be paying $45 and not $24 per share.

You are right that they made some money selling these puts.

Jurgis - options are confusing, aren't they? and I don't mean the employee options. :-))))