Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: niceguy767 who wrote (94246)	2/19/2000 3:08:00 PM
From: Petz	Read Replies (1) of 1573697

niceguy, re:<Another valuable lesson learned, the hard way...as, like you, I would happily have exercised the $40's...> Actually I'm very glad that the benchmark which determines automatic exercise is the NYSE close. If you had been able to exercise, I doubt that you'd get much over 40.5, maybe less, on Tuesday. Some people are able to exercise past 4:30. At some brokers the deadline is sometime on Saturday, maybe thats just for "members." The Options Clearing Corporation has a limit (sometime on Saturday) after which call exercise may not be requested and won't be honored. I doubt a retail customer can get anything done about call exercise or non-exercise on a Saturday, but probably brokers and house traders can. IMO, the $43 trade might have been an attempt to sucker these brokers and house traders to exercise Feb 42.5 calls. I suspect that if any of them are dumb enough to take the bait, they'll get shellac'ed. Petz

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