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Strategies & Market Trends : Tech Stock Options
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To: Dom B. who wrote (51985)9/9/1998 8:17:00 PM
From: SJS  Read Replies (1) of 58727
 
Dom.

If you are long the actual stock and are long puts, and you exercise the puts, you put your actual stock and get cash. You're done.

If you don't own stock and are long puts, and you exercise the puts, you get cash and your short, needing to cover or eventually close the transaction (as you would do any short...).

These rules are what Fidelity does. Your mileage may vary according to the house you deal with.

Regards,
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