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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Sanzen who wrote (52016)	8/13/1998 3:32:00 PM
From: Jan Crawley	Respond to of 61433

Sanzen, I wrote 4 Sept 40 puts for 2 also. I checked the OI from last night and it confirms that the 4000 Sep/Jan puts are opening positions(not closing). However, for the Sept 40 puts to be profitable, Asnd needs to close at $38 and below; that would affect his Jan 30 puts premium negatively enough to offset any serious profit. Of course the Jan puts are long time away, but the risk/reward ratio is not very attractive, IMHO. What if he wrote the puts for premium as you and I did??