soup,
Thanks for the info (and thanks Eric, earlier).
I trade through E*Trade, and can't find any info there about automatically exercising my options for me.
Unfortunately, I put a limit on my buy order and it never got exercised, so unless I get some tomorrow I won't be in the game. I had my finger on the trigger during the dip to 25, and could've got April 27.5s at 3/16, but waited too long. My reasoning was that the closer we got to expiration, the lower the price would be. I should've seen the run-up coming. Oh well.
One thing I don't understand (and this refers to Linda's response too) is how your options wouldn't get exercised. Doesn't the person who wrote them have to have either the shares on hand, or enough cash to buy them?
I still haven't quite gotten my head around options trading.
thanks again,
rhet0ric |
