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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: ajbrenner who wrote (94191)	2/18/2000 11:29:00 PM
From: Elmer	Read Replies (1) \| Respond to of 1578510

Re: "That just begs the same question. What closing price matters. Regular market close or after hours close." Keeping mind that an option is the right but not the obligation, it does not make sense that a broker could exercise an option without instructions from the holder. However the market maker must maintain a market for the option, I assume, until expiration. Therefore if the option has any intrinsic value, in the absence of specific instructions, the broker would sell the option for the bid price offered by the MM rather than allow it to expire and lose the existing value. Make sense?