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Technology Stocks : Aspect Telecommunications (ASPT) -- Ignore unavailable to you. Want to Upgrade?

To: corporal spewchunks who wrote (561)	11/18/1998 12:46:00 PM
From: R. Ramesh	Read Replies (2) \| Respond to of 2018

If I am right, and the puts were done at about 18 1/2, the buyers wouldn't actually begin to lose money until they declined in value to about 11 1/2. I just checked the bid and it's at 11 7/8. So I would expect a spirited defense of the 11 1/2 level. After Friday, it won't matter. I hope you mean 17 1/2. Or is it really 11 1/2? But I can assure you that my quotes never reached a bid/ask of 11 1/2. Ramesh

To: corporal spewchunks who wrote (561)	11/19/1998 1:24:00 AM
From: Herschel Rubin	Read Replies (1) \| Respond to of 2018

"If I am right, and the puts were done at about 18 1/2, the buyers wouldn't actually begin to lose money until they declined in value to about 11 1/2. I just checked the bid and it's at 11 7/8. So I would expect a spirited defense of the 11 1/2 level. After Friday, it won't matter. " HOWEVER, John, I think you may be omitting one key point: The put/hedge owner is not only concerned with NOT showing a loss on those puts, they'd like to see the puts expire as deep in the money as possible.