Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TGPTNDR who wrote (94239)	2/19/2000 10:13:00 AM
From: niceguy767	Read Replies (2) of 1573686

TPGTNDR: The subject raised by you was a subject raised earlier in the evening...i.e which price is the benchmark price, $43 or $40.25 and , if $40.25, what is the latest time that one can force exercise of the $40 Feb. calls...The answer, I got from my broker follows: "30 minutes and 5 different brokers at TD Waterhouse and I'm told that I had the right to exercise options until 4:30 EST today...I no longer have that right according to the 5th person I talked to...Also the NY closing price is the benchmark, which in this case is $40.25...Apparently automatic exercising occurs only if the variance is $0.75 or more, so my 40's and 42.50's will not be exercised, and I do not have the right to enforce exercise after 4:30 P.M. EST... I'll double check the exercise policy on Monday...Another valuable lesson learned, the hard way...as, like you, I would happily have exercised the $40's..." Please let me know how you make out in your follow up as I asked to have my 40's exercised at 10:30 PM Feb. 18, but was informed that as it was after 4:30 PM EST, my request could not be executed.

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