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Technology Stocks : PairGain Technologies

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To: Jay Mowery who wrote (20251)	2/5/1998 8:50:00 PM
From: joe smith	Read Replies (4) of 36349

hey jay, first of all thanks for such a lenghty reply. also thanks to you tricky ricky. unfortunately i did not buy these for less than 20. i bought them at 21 7/8, so if they were exercised i would show a quarter point loss(i think) for three months of holding at a loss. well, i guess the best place to learn is in the real world. tricky said that they could be exercised any time now. i was under the impression that they could only be called on the third friday of the month. how does it work? what actually happens if they are exercised? i sold the 15 calls for 1 5/8 and bought the shares for 21 7/8. lets say pair is 22 when they are exercised. the calls would be about 2. thanks in advance js

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