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Politics : Formerly About Advanced Micro Devices
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To: Bill Jackson who wrote (83465)12/17/1999 5:06:00 PM
From: Goutam  Read Replies (1) of 1572887
 
Bill,

You got the first part right. But you got the second part slightly wrong -

Of course the internal bookeeping of the brokerage house will simply credit the client account with the premium to Elmers agreed by at $25

The premium or options proceeds get credited to Elmer's account on the day the options were written or sold.

and sell the stock on the market for the market rate,

Sold only if Elmer places the sell order. It would be just like buying the stock in the open market. He can choose to hold on to the stock as long as he likes.

Goutama
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