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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: F The who wrote (6192)	6/16/1998 1:44:00 PM
From: Jan Crawley	Read Replies (2) \| Respond to of 164684

Those people who sell naked calls have to buy. Is it right?--as I said I don't have enough experience in the stock market. After the expiration date or even at the exdate, I hope to see lots of profit takers, unload their fat profitable AMZN stocks. Hi, Felicia, We do not have to BUY the stocks to covered the naked calls. Most people close the options on or before the option date. However, Monday after may very likely be a down day for Amzn as most of the calls will be closed during the weekend. That's what I am planning to do; close the 3 June 47 1/2 on Friday, leave the 2 June 50 until next Moday. What do you all think? Ty, Jan p.s. If Amzn stays above $70 on Friday; I plan to write uncovered calls for Oct 75 or Jan 75; 2 to 3 contracts at a time.

To: F The who wrote (6192)	6/16/1998 1:49:00 PM
From: jawd	Read Replies (4) \| Respond to of 164684

I've got this weird feeling that its the calm before the storm - I can see AMZN falling 10 points before the close or opening 5 points down tomorrow.

To: F The who wrote (6192)	6/16/1998 7:06:00 PM
From: Glenn D. Rudolph	Read Replies (3) \| Respond to of 164684

v Glenn, Jawd just got out at $70. I think it will start dropping after June option expiration date. Those people who sell naked calls have to buy. Is it right?- Felicia, My specialty is options and clearly is not shorting;-) Those that wrote naked calls do not have to buy the stock. They just have to buy the calls back at a loss. Typicallay stocks due to to the strike price with the most open interest. However, it is my opinion this stock is being manipulated and not by the market makers. I really believe expiration will have no affect on this stock during this expiration. I also wrote naked 50 calls sometime ago and bought them back today at a loss to stop the "bleeding." Everytime I see a pullback, I feel we have hit resistance but within a few hours Amazon blows right through it. The 3 PM eastern time move was confirmation of that. Sorry that most of what I think are based on intuition, so need confirmation whether it is right or wrong and some inputs from the experienced ones. I do agree the pop in this bubble will be soon. I am not certain experience would be of much help here. The stock is not trading in any normal fashion and fundamentals can be thrown out the window. Since the stock is difficult to obtain to short and if one wants to participate in the downmove when it begins, then buying puts will add back positions. The problem with buying puts is you loose a lot of points due to the time premium you pay. If you are "certain," the fall is in place write deep in the money calls. That is now may plan to add to my position on the way down. I have lightened up a bit on my position since I feel I am fighting momentum beyond what I have ever seen. I plan on having more shares going down and writing in the in money calls is my plan once I can confirm the down move. I am only short 3000 shares now and do not have them boxed. Glenn