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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: IceShark who wrote (34742)4/19/1999 8:41:00 PM
From: B.REVERE  Read Replies (3) of 86076
 
Ice Shark, this newbie option player bought asnd 90 puts last wednesday at 1 1/4 expiring april, 99. Ascend closed at 89 and I thought I would lose 20 % on the trade thinking I would get assigned
the 1 point differential on the close. Instead, Watrehouse calls and says they've exercised my options and I have 24 hours to cover. I say
why didn't they assign and get a "mumbo jumbo" that's up to the mm's
answer. I bought them back at 182 later today. My question is, who decides which holders of ITM contracts get assigned and who gets exercised?

Thanks for any help.
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