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Strategies & Market Trends : Option Spreads, Credit my Debit

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From: Tim O.	1/24/2006 3:50:30 AM
	Read Replies (2) of 2317

Dispute over Assignment Value... Ken or Ox, I hope you guys are still on SI, because I need your advice. I got assigned some TSM Jan 8.75C this weekend and I'm getting significanyly less than the value I expected per the CBOE contract adjustment circular. I'm getting similar problems with Brownco and Schwab, but Brownco is more eggregious. Here's my situation with Brown: a) Short WOWAW (Jan 8.75 Call) which represents 119 TSM + $7.19 cash-in-lieu (per contract). b) Assigned 119 TSM per contract at $7.59 per share (vs. $8.75 strike). With the CIL, I would have figured I would get ~$8.69 per share, not $7.59? I am contacting the CBOE and both brokerages tomorrow, but I'd like a second opinion. Thanks, Tim cboe.com

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