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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: Ruyi who wrote (18435)4/9/1999 7:26:00 PM
From: Gordon Gekko  Read Replies (3) of 37507
 
*** Options Analysis ***

As of 4/9/99 there are 2,197 April call contracts in the
money. If all the contracts are exercised then this turns
into a whopping 219,700 shares.

Can we make the assumption that once these contracts are
exercised then the all the shares will be immediately sold
on a one for one basis? Of course we can't. That is simply
idiotic.

Can we also assume that the writers of these 2,197 contracts
have all the shares they need for the forthcoming
exercising of their contracts? Of course we can't. The
uncovered call writers are either going to have to close
their position (buy back the contract) or will have to honor
the option agreement (buy common shares on the open market).

Most of these arguments are moot anyway (in both directions)
because we are only talking about 219,700 shares. This option
expiration will be a non-event.

Strike Open
Price Interest
6 22
7 114
8 377
9 41
10 40
11 53
12 30
13 48
14 47
15 333
17.5 377
20 150
22.5 2
25 124
27.5 439
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