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Technology Stocks : WDC/Sandisk Corporation

WDC 163.61

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3:59 PM EST

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To: Bruno Cipolla who wrote (5684)	5/12/1999 11:00:00 AM
From: NHP	Read Replies (3) of 60323

Bruno, You might be interested in my experience exercising the SNDK April 10 calls that I owned. On the Thursday that was 2 days before expiration, I instructed my AE to exercise the options. He replied, "I won't even enter your order. They will be exercised automatically on the expiration date". The next day I went in person with written instructions for the broker to exercise the options for me. After a lot of hassle, I got the AE to stamp the date and the Broker's logo on my instruction sheet which I kept as a receipt. The AE was not aware of the statement in the Option Agreement that (paraphrased): "On expiration date and in the absence of instructions to exercise in-the-money options , the broker will make a best effort to exercise them, but if something goes wrong, tough luck!" I think I'll be doing more on-line trading in the future. NHP p.s. The options were exercised and everything is OK.

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