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Technology Stocks : How high will Microsoft fly?
MSFT 486.98-1.4%3:59 PM EST
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To: Dwight E. Karlsen who wrote (24326)6/18/1999 7:00:00 AM
From: Harry Sharp  Read Replies (2) of 74651
 
>>>..... Remember that the option contract actually doesn't expire until Saturday, so if your broker wants to do you a favor after regular trading ends, a broker can do so.<<

If I'm not mistaken the rule is that, absent instructions to the contrary, all brokers will automatically exercise the option at expiration if it is 3/4 or more in the money. Waterhouse does this and the broker said he thought all houses had a similar rule.
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