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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 238.45+2.8%9:40 AM EST

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To: kash johal who wrote (5763)8/23/2000 1:54:31 PM
From: bacchus_iiRead Replies (2) of 275872
 
thread (specialy option trader)

Last Friday, when my August 70 calls expired, I was pretty much sure that the procedure by default was to automatically give me 70 5/8 (closing) – 70 = 5/8 per call. Then yesterday I checked what happened with those, and what was my surprise to see that they gave me absolutely NOTHING, zero$, for the calls. I immediately called TDWATHERHOUSE to report them what I was certain to be an error. I was answered that, since I didn't exercise the calls, they were worthless. I had only 10 calls so it's not tons of money, but what would have happened if it had been more? The worst is that they probably kept the money for themselves AND THAT IS PISSING ME OFF.

What is the politic elsewhere ? Aren't they supposed to give you the difference at the close? I have another sad story about TD, costly front-trading last month, but I want to clarify that one first. I suspect them to be dishonest : as they charge you less for the trades ($29), they manage to make you pay elsewhere. This is an abomination, isn't some rules against it?

Thanks in advance...
Gottfried
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