How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 479.22

-1.6%

2:07 PM EST

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To: Harry Sharp who wrote (24331)	6/18/1999 1:02:00 PM
From: Gerald Walls	Read Replies (3) of 74651

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. If you look closer I bet you'll see the language says something to the effect that they "may, at our discretion and without any obligation to do so, exercise options that are x/y points" in the money. Don't depend on it. If they don't then you'd have no recourse because, as they'd say, they're under no obligation to take action without instructions and you should have exercised them yourself.

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