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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Ali Chen who wrote (178427)	6/27/2004 3:37:21 PM
From: Elmer Phud	Read Replies (1) \| Respond to of 186894

Ali - If your criterion of correctness is whether you agree with a statement or not, you need to reconsider your criteria. You were correct about a point I never argued against. I agree with that point. It was only a coincidence that you were right. Like the stopped clock. come back with a rebuttal. I'd like to see your thoughts on my rebuttal of your "opportunity cost" straw argument for example. I have presented the argument enough times that you either get it or you don't. In your case you don't. Others here have explained to you what is obvious. Using the Covered Call simile, you write a CC at FMV and get a premium. For a limited time you exchange the opportunity to gain in share value for the premium you receive. If the share price goes up you have "lost opportunity". Similarly, the company has purchased shares on the open market (in recent years) and granted options at the same price (FMV). Just like a Covered Call they have exchanged their opportunity to gain in share value for the continued services of the valued employee. If the share price goes up they have "lost opportunity". It couldn't be simpler but in your case that may not be simple enough. The argument here has been how to quantify the cost, if any, to shareholders, and when to apply that cost. I and others here think that cost is "lost opportunity" and shouldn't be expensed, at least not at time of Grant.