Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Spartex who wrote (23139)	7/20/1998 12:31:00 PM
From: Ben Antanaitis	Read Replies (1) of 42771

Quad-K, The autoexercised calls that occurred were 30 $7.5 contracts, 2608 $10 contracts and 2811 $12.5 contracts. However, depending on the brokerage house, some of the $12.5's may have disappeared not autoexercised because they were not in the money deep enough to meet the brokerage house's autoexercise threshold ie if the accounts were with DLJ, they would go unexercised(<.75 itm), but ML and others would have autoexercised them. But the $10's and the $7.5's most certainly were autoexercised. Why does this situation occur, it's hard to say. PF's laziness factor.. perhaps. But if you hold a call on expiration day, you better be sure you know how you are going to handle it if it gets autoexercised and the broker is calling you for the cash to cover the purchase... Oh, BTW, some of the other tech stocks that had lots of autoexercised calls went down at the opening bell... eg DELL. Ben A.

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