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Technology Stocks : USRX
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To: Mephisto who wrote (7228)12/29/1996 6:34:00 PM
From: David Lawrence   of 18024
 
Thanks Mephisto. If I understand, I was corect in that options do indeed expire on the Friday prior to the 3rd Saturday each month. However, it seems that some "power" (perhaps Mr. Soros?) has determined that in February, 1997, expiration will occur on the Friday preceeding the 4th Saturday. Yes?

My Pilot didn't say that options expire on the 14th, but rather that the 14th was the Friday preceeding the 3rd Saturday. It's all quite confusing. It would appear that the consensus is for expiry on 2/21/97.

I think I would prefer that Mr. Soros' quote read something like "Short squeezes on Zitel should cease prior to January options expiry." Yeah, that would work.
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