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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: B.REVERE who wrote (34748)4/19/1999 9:09:00 PM
From: IceShark  Read Replies (1) of 86076
 
Revere, I think you got things a bit screwed up. First I assume the 182 is 82. But it sounds like you sold poots, if you are thinking you lost money. If you actually bought 'em you are in the money, quite nicely.

If you are underwater on selling poots on expiration and do not close, you will be assigned the shares, I don't believe there is an allocation on that. Maybe Burke, Fleck, Meehan or GoofBong can confirm a different situation. The real risky part is a week or two out when the option market makers start messing with premiums and someone puts the shares to you way before you thought they would come due, before the option has expired. Then there is an allocation process. Don't know how they do the allocation, maybe they look for guys they don't like. -g-

If you sold them at 82, you got a very bad situation, and that is the risk of selling naked options.
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