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To: Lee Lichterman III who wrote (37057)1/9/2000 3:12:00 AM
From: clochard  Respond to of 99985
 
An interesting point. The covered calls that I have written have always been exercised at expiration, when ITM. If the call holders don't have the money or desire to buy the stock they will sell the options beforehand, which explains (to me at least) why VIX dropped substantially on Friday.



To: Lee Lichterman III who wrote (37057)1/9/2000 9:27:00 AM
From: Paxb2u  Read Replies (1) | Respond to of 99985
 
L3,
I thought most options were settled in cash when they expired. Is that not still true?

Thanks,

Peter :o)