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Strategies & Market Trends : Options 201: Beyond Obi-Wan-Kenobe
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To: Herschel Rubin who wrote (1036)6/18/2004 5:33:03 PM
From: Ira Player  Read Replies (1) of 1064
 
Hi Herschel,

I have had several occasions where I have shorted against the option at the end of the last trading day, when doing so was the cheapest exit.

To sell the option, you have to take the bid and at the end of expiration day, they often offer a little less that the intrinsic value of the option. It can be more cost effective to sell the stock short, pay that commission and whatever fee your broker charges for the exercise, and then have the position flattened on Monday.

Ira
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