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

To: HG who wrote (42612)	2/25/1999 6:43:00 PM
From: Al Chechatka	Read Replies (1) \| Respond to of 164684

I am both long and short it with the leaps. I bought the 120 Puts and the 120 Calls for Jan 2001. I've noticed a divergence when the stock goes up the calls go up huge, but the puts only go down fractionally. The last time I rode it to 199 back down to 170 before I closed out my position on the calls. Made 100 points per contract on the 76 5/8ths Calls. 3 weeks later, sold my puts at 1 point loss. I can't guarantee anything. But just look at the transaction today. They say that total drug sales will be ~400 million by 2002. Let's say normal valuation of that worth would be 10 times sales or 4 billion dollars. 46% stake is ~2 billion net worth to AMAZON (in 2002). Today the marketcap of AMZN went up over 2 billion dollars. To me...That's crazy. I may gamble, and yes it is totally gambling, and buy a few more calls in the morning, probably not so far out, maybe the Jan 2000 130's. Al C.