Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 204.41

-1.0%

Nov 14 9:30 AM EST

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To: Scott Stents who wrote (30823)	1/16/1998 9:21:00 PM
From: username	Read Replies (3) of 61433

<called away> hope you don't mind if I answer.."called away" is covered calls...If you were a seller of Jan calls at a strike of 30, (covered calls), the answer is "maybe". If somebody wants your stock, they can call it away even if it's at 29 1/4, (I've seen it happen), or at any time before expiration, (seen that too). Each clearing firm has its own policy on what to do if the stock ends up at 30 or better. Many will call your stock away AUTOMATICALLY if the price closes at 30 1/4 or above. Call 'em and find out. BTW, some clearing firms will charge their "normal" commission on the sale of your stock, and "normal" may not be the best deal, so if you are ever called away, remember to check on the commish before settlement date. Simon was actually picking our scabs a little, assuming that we paid more than zero for our Jan 30s and held them until closing today when their value was zip. which in my case is an accurate statement. pete

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