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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Morgan Drake who wrote (24329)	6/18/1999 12:16:00 PM
From: taxman	Respond to of 74651

i held dell 6.25 options when stock was approximately 40 and was told by broker i would have to pay the 6.25 to exercise. i did not send in any cash, exercised and never had a margin call. this is my experience--when the dell showed up in my account the brokerage computer system gave me margin credit for the 40 dollar value. i've also exercised deep in the money microsoft options without payment in full of the strike price. i have accounts with etrade, discover and dreyfus. regards