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

To: hal jordan who wrote (8924)	7/6/1998 2:49:00 AM
From: Dwight E. Karlsen	Respond to of 164684

Hal, I too think that the Oct puts will be a great investment, but of course the key is what strike, and how much to pay. Right now I'm simply going to wait a bit. I'm already invested too much in July puts, though not a fortune (4 contracts total, at strikes from $85 to $95). But I'm obviously losing badly on them. In fact, anyone else notice that the highest puts available on AMZN are 115's?? So every single put option is minimum of 9 full points out of the money. Yet the prices for 105, 110, and 115 strikes are astronomical. Clearly even the CBOE has been taken by surprise. Expect to see more strikes made available next week. Right now it dosn't matter to me what AMZN does. If it goes down next week, maybe I get some more money back. If it shoots up to 135-150 area and sticks for a bit, no biggie. Just a better position from which to establish a higher and later put position, such as Oct 115 for $5. Don't we wish! Yet if Amazon keeps going up, it will happen eventually. Let's monitor the prices.