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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: Shtirlitz who wrote (1602)	8/17/1999 8:55:00 AM
From: the options strategist	Respond to of 2241

I would check with my broker. I'd be interested in the answer you get. jj

To: Shtirlitz who wrote (1602)	8/17/1999 10:55:00 AM
From: Madpinto	Read Replies (1) \| Respond to of 2241

I ran your question past investor services at the CBOE (1-800-OPTIONS). They said you will be able to exercise your puts (any time between now and expiration). It will put you in the same position as someone who has a short position in the stock. You won't be able to close your position until the stock is reopened for trading.

To: Shtirlitz who wrote (1602)	8/17/1999 12:05:00 PM
From: RoseCampion	Read Replies (1) \| Respond to of 2241

Shtirlitz, that was a great question - I'll look forward to hearing the answers. But I have a few questions of my own - - The IRID options are still trading, correct? - What did your puts do after the Ch11/trading halt? Did they continue to go up in price and/or then level out? - Do you want to exercise the options for tax reasons, or because you expect the stock to go down further after it resumes trading? (Could a case be made for a 'take the money and run' strategy now?) Just curious - thanks again for the question, and congrats on a great option play in any case. -Rose-