How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 492.01

+1.3%

Nov 28 12:59 PM EST

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To: John F. Dowd who wrote (34431)	11/19/1999 8:38:00 PM
From: jmac	Read Replies (2) of 74651

The CBOE specialists usually take stock away when the stock closes 3/16-3/8 in the money unless you buy back the call. It won't be individuals who owned the 90 calls. because if you wanted to exercise those options, you had to tell your brokerage firm prior to 3pm CST and at that time the stock was at 86. Can't imagine too many call owners calling their brokerage firms exercising their 90 calls before 3pm. So, you're left with specialists who held the 90 calls. In this case, I suspect that they won't take the stock either because the official close of the stock was below 90. Specialists aren't going to take the stock based upon Island trading it at 90 5/8. They, then have to wait to see where it officially opens on Monday. Just my guess.

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