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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: John O'Neill who wrote (65024)	9/17/1998 7:59:00 PM
From: Timothy Liu	Read Replies (1) \| Respond to of 186894

> They sell puts & issue stock to cover if needed. Incorrect. You need to buy stock to cover puts. Put writer want the stock to go up. Put buyer want the stock to go down. Intel use put to implement stock buyback so if they issue put at 80 and price fall below 80, they need to buy the stock. So instead of buying stock on the market, they buy at the strike, a fixed price if it happens. Heard that ML was a big buyer of Intel put 6-10 month ago. Do not know if that is still true. Now you understand why one want to push the price up and the other want to keep it down. Tim 0.02$ is my own, not Intel's