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Technology Stocks : Lucent Technologies (LU)

LU 2.645

0.0%

Dec 24 12:59 PM EST

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To: Gary Korn who wrote (4782)	10/22/1998 9:22:00 PM
From: zyx1996	Read Replies (2) of 21876

Gary, I have enjoyed reading your comments at ASND site when ASND is at low 20's. Unfortunately, you left a little bit too early. I know you trade options, too. I have a specific problem need your help. I used my etrade account sold two Oct 15 put of PLAT. The stock was close @ $15. But I still assigned to buy 200s of PLAT @ $15. The PLAT was traded most time of the day above $14 and at last two hour, gradually reach and beyond $15 and closed at $15. So do you know WHY I still got assigned?! Following is the etrade custom service people's reply: "Options that are 3/4 points or more in the money will be AUTOMATICALLY exercised. However, your option could have been assigned because the put buyer exercised prior to expiration. The put buyer has the right to exercise if they believe the stock will not rise in price. You, as the put seller, have an obligation to buy that stock if the put buyer chooses to exercise. " Is this make sense to anyone? This is my first option trade, so I do not what is going on here. My guy feeling is that Etrade made mistake. but I need more knowledge people to tell me. Thank you in advance for your response!! Zeren Gao

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