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Pastimes : ETRADE Sucks!

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To: Gil Gilbertson who wrote (539)	10/22/1997 3:07:00 PM
From: taxman	Read Replies (2) of 3262

"I had four Oct40 puts on Starbucks that were to expire last Friday" why didn't you sell them at market? "I had no buying power due to the market decline" is this etrade's fault? "they would not execute an order without funds in the account" why should they? "Etrade elected to excercise my puts and placed me short 400 shares at 40 even though the stock was at 37" would you rather etrade let the puts expire worthless? "I thought, fine, they will just credit my account at the end of the day because the puts were in the money" in the money equity options are exercised, not settled for cash. "I had to answer a $5000 margin call" did you expect a free ride? regards

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