The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1882-02-25
Puts, Calls and straddles.

~S ~03AO Go&8O 0Gx000yOD.
Inefe are the most common method;
OF Wall street dealing at Drcsent. IND
are now 20 widely understoIi that ~ ex'
PLANTATION is hardly necessary. Twenty
years ago there were hut little in use
Out as the rage for speculation increas.f
they came into common parlance. r. i
now said tnat there are 2,OOO puts. calls
ana straddles sold daily, and Russe.
sage, who is the principal dealer. makes
the business highly profitable. The
price of q put" or u "cnll'' for 30 days
on lOO shares is generally SlOO. A strad.
ulc, which combines the above privi.
Ieges, is Of double price. "Options," are
much the same as the above, but the
Term has a more respectable sound.
Hence, when we read Of 100 shares
buyer IN" it il optional for the buyer to
call any day within the specified time
for his stock. The board limits nuts.
calls and options to CD days, which, in
deed, Is long enough for all ordinary
speculation. When man has bought
u put" the question with him is. j.,
the stock going to decline: If 80 he
Will wait till he tllinks the lowest mark
Is reached, and will then make the ten
der. If the stock, ON the other hand,
advance, his investment in the purchase
OF the ''privilege" is lost. Ifa man buy
q ''call" he waits till the stock advance.
When any one is under the full power
OF the Wall-s+reet fever, he will general
~ continue as long as = dollar is left,
anu very striking instance Of this is
found in J. Howard Welles, the gray
headed blac ckInailer, who was driven to
sucl, crime by the frenzy of speculation.
Such are the men who enrich the GRO
ker; the latter makes every effort to
keep up the supply Of victims by such
advertisements as the fOllOwing:
All active stocks and bonds bought
and sold for c,ssh Or carried on satis!actG-
ry margin, in small or large lots. Frac-
ti"nat lots, from ten shares up, Y special
ty. Puts and calls secured ut low rates.
Sharper & Co., Wall street.
Here is another intended to attract
business from the country:
'aluables stock exchange
information mailed cOufidentially and
inquiries answered on receipt of IS.
PRIVATE SECRETARY
See how accommodating this man il:
w. ;. Ray buys and sells r.ilr.Md and
securities. Where parties
cannot buy ltH) shares l take AInOnta
from SIS up. combine them and buy lW
I'D NM shares, OlEllS1nS prOltS 10 inter-
ests invested person with $25 has same
chance as one with larger amount.
One statement i'm the above I can
readily believe: "a person with 50 has
the same chance ~ one with larger
. a1aOunt, "but what that chance is worth
in either case is the question. P,rss'n-
ally speaking, I prefer to keep my IS
in my pocket, and recommend the read
er to do the same. Here is another
highly accommodating offer:
\ GENTLEMAN, having ten years ex-
pcliencc in railroad stocks, weui.i give
The benefit Of his experience to ladies Or
investing from SO tn 81 900;
l:ow is the time I" realize profit; small
Now is the time to realize pr'tit.'
says the advertiser; IL which ] reply
now is the time when wise men will at
tend IL regular business, and cit's.. their
Ears to N'all-<trct syrens. Pudding i'm
lustry will bring solid results, while the
history OF Waii->trcrt speculation may
bc summed up in that briei
,rovcrb concerning the fool and his
liz Troy I;M,x.