never cut a highschool class in my life
way too motivated to outperform my ugly brother
goal was to achieve top10 out of class (400 kids)
with Advanced Placement Calculus and Chemistry, did so
I would have laughed in your face if offered stolen hallpasses
shows you how clueless I was, with obscured priorities
much more important to get "honey in the hand" than top10 scholar position
on serious issue of QCOM January option conversions
the question is whether to allow Jan Qcalls to expire
the default condition leads into conversion to shares
payment for a large portion of those converted shares comes from sale of same contracts
since a stock purchase is the result, you gots three days until settlement
this is NOT an option sale, which has one day settlement
the three days are possibly crucial in providing added cash from higher QCOM share price
the stock might jump 15-30 points in those three days
a fickle change of mind on a portion of the contracts results in option sale (not conversion) to raise cash
it is a sly plan, thanks to PhatBastard for the idea
he has known a dozen men to pull it off
the onliest punishment is a whack of peepee
the infringement is from selling options on second thought late
it is called Free Ride Violation
I would go on Fed Margin Restriction
big deal, no buying with incoming cash or wired funds
I aint used that privilege since 1998
Volt, you have brought forth the question of whether money would be in abeyance somehow, not lost, but in confused state
wouldnt want broker to tie it up for review of procedure
might say screw it, too much energy as you claim
might sell a bunch of Feb calls to raise cash
then with converted shares, buy back Feb calls on margin
the margin released will be huge with purchase of shitcheap shares
oh well, stuff to keep me up at night
actually nothing keeps me up at night
just locating my navel, so that I can contemplate it
/ Jim Willie |
