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

To: Bald Man from Mars who wrote (3239)	7/29/1998 4:30:00 AM
From: Pawel Achtel	Respond to of 5944

I will be happy with "dead money". As I told you, I am writting naked puts. If you write say 100 Jan $10 puts for $1 5/8, you can get $16,250.- credit straight away (so theoretically you do not need any money). At worst this dude goes below $10 by January, I will get exercised and I will own 10,000 shares at a net cost of $8 3/8 per share regardless where we at in January. By then I can keep the premium ;-). To loose money it has to go below $8 3/8 (strike minus premium). It happens that at this price the adjusted P/E would be 0. I do not mind buying a (still) profitable company at $0 or cheaper. Everyone is asking here where is the bottom or how low will we go, here is the answer: THIS IS THE BOTTOM! Any lower from here and just looking less than 6 months ahead you own the company with all it's potential at $0,000,000,000 (read ZERO!) or less! ;-)))))) I love winter sales! (yes, it is winter here in Australia) Cheers, Pawel