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Strategies & Market Trends : Tech Stock Options
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To: Dave Triplett who wrote (35354)2/22/1998 9:43:00 PM
From: Patrick Slevin  Read Replies (1) of 58727
 
Well, the derivatives guy is still not home....he's single, and in love (the putz).

But I found the statement I was looking for...."an option that has not been exercised by the cutoff time of the OCC will expire worthless. Options that are in-the-money by at least 3/4 of a point or more will be automatically exercised by the OCC at expiration."

Now, I know that "3/4" has been reduced over the years, probably it's a 1/4 by now.

So your case gets a bit shaky. Still, call the the Compliance dude or at least the ROP.
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Another place you might look is the standard handout.....a pamphlet I always chuck else I would look for you....called "Characteristics and Risks of Standardized Options". A short pamphlet outlining the rules and regs.
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