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Technology Stocks : American Power Conversion
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To: jas cooper who wrote (1587)7/11/1997 9:33:00 AM
From: Joseph Francis Torti   of 2574
 
Jas, Two or three days ago you could have bought July 20 calls at 3/8
and now it is bidding 1.00. It's just like buying stock only if you are not right in guessing the direction of the stock price it could expire worthless on the third Friday of the months which option usually expired. For example if I bought that call three days ago
it would have cost me 375.00 plus comm. for 10 July 20 calls now that call is worth 1000.00 minus comm. in three days. When a stock hits it's strike price in this case is 20.00 it should go up 1/16 for every 1/16 the stock price goes up. You have to call your broker and fill out a form for option and they may or may not let you do it. I have two acct one allowed me to do it and the other doesn't. Hope this helps.
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