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Politics : Formerly About Advanced Micro Devices
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To: Kenith Lee who wrote (110638)5/12/2000 3:09:00 PM
From: tejek  Read Replies (1) of 1582533
 
The actual exercise (to take ownership of the underlying stock) is on Saturday. The Exchange will randomly assign which option writer to sell the stock and award to the option buyer. Unless you are deep in the money (vary from house to house), the automatic exercise is not guarantee. So the option buyer must place the order (to exercise) prior the market close on Friday. This includes cash settlement for index options.

Thanks, Kenith.

Tim, did you get that?

ted
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