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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (52246)	3/16/1999 6:22:00 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 132070

Michael, You like any other genome companies besides INCY? thanks. mike

To: Knighty Tin who wrote (52246)	3/16/1999 6:50:00 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 132070

Michael, Another question. Let's say I want 500 shares of INCY, but I want it a little cheaper. I could sell 5 put contracts for April 22.5 for 1.5 so that the cost basis for my shares would be 21. If INCY doesn't get below 22.5, I'll just pocket the money and go on. If it crashes or keeps sliding down, I'll have picked up what I want at a cheaper price than it is today. Disadvantages to this scenario are--- 1. price of INCY crashes---so I'm buying INCY at 21 instead of 15, or whatever. my rationalization would be that I wanted it now and would reload at 15, so it's not much of a downside to me. 2. price of INCY never gets lower but reverses and go up and keeps going up. i'll have missed the run-up, but i'll also have made some money selling the puts. Ok, now, if you or any others would chime in, I'd appreciate another person's view of this strategy. Thanks. mike