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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (2798)6/26/1998 2:04:00 PM
From: FruJu  Respond to of 5944
 
>Please explain:

>"Assuming ADPT closes above 15 in Jan 2001, someone made themselves a >nice $60,000"

It may have been ADPT selling the puts, although only 300 @ 1 (= $30,000) isn't going to set their bank accounts on fire.

The seller of the PUTs will pocket the cash if they are unexercised - which they will be if ADPT closes above 15 in Jan 2001... so it's the seller (as is often the case in options) who will rake in the money.

E>


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