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To: edamo who wrote (109964)3/17/1999 9:44:00 PM
From: Ian@SI  Respond to of 176387
 
OT to Ed re PUT,

It was a semi equipment company. I sold PUTs with a strike below book value looking at the $2.50 premium as a gift. I had about 6 months out and mistakenly believed that I could outlast any weak spell. Along came LTCM and I got assigned early at less than 1/2 book.

Another option lesson learned.

I'm not sure that I want to learn any more.