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

To: Jan Crawley who wrote (33118)	1/7/1999 12:33:00 AM
From: James Thai	Respond to of 164684

I am looking at the options table again and thinking about writing(selling) 5 Jan 140 calls and asking nice premiums(such as $15) tomorrow if Amzn gaps up again. I have 800 Long/900 short. Talk me out of it? Might be good for a very short term trade IF it gaps up, AND IF you're willing to potentially lose your boxed position for it, but I doubt you'll get $15 in premium for it. They're only trading at 8 and change now.. Also, for the last two months, AMZN has rallied excessively in the week prior to expiration (for no apparent reason) so I'd say you're better off writing puts. Stock looks "cheap" to individual investors too. As I've said before, there are safer stocks to short. James. (Currently long YHOO and CMGI)