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

To: freeus who wrote (9947)	7/11/1998 4:29:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 164684

I did have July puts on Amazon, but dumped them today. MMs are deciding/guessing where AMZN will end on Friday, and stripping premium everywhere they dare to. I sold them as AMZN was descending from 101 1/2 to 100 1/2. Even though AMZN dropped another about 1 1/2 pts not long after I sold, I noticed that the bid price on the options didn't budge. When the stock is drifting down but the premium on the option isn't increasing except by maybe an 1/8 max, you know it's getting dangerous. All it will take is a couple point surge up early next week and it's bye bye to big chunks of premium on the 95's and below. But I guess you probably know all that.