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To: AmericanVoter who wrote (6283)4/11/2000 12:46:00 PM
From: Jeffry K. Smith  Respond to of 8096
 
Amein,

You will get assigned if the underlying is below the strike price of the put, period.

Remember, the original buyer of your puts may not be the holder at expiration.

Best,
Jeff Smith



To: AmericanVoter who wrote (6283)4/11/2000 12:52:00 PM
From: Bridge Player  Read Replies (1) | Respond to of 8096
 
Yes, you will indeed be assigned. And you will owe your broker $17,000 for each short put in your account on or before Monday April 24. The term effective cost is not relevant.

IMO this is one frightening post.

BP



To: AmericanVoter who wrote (6283)4/11/2000 12:55:00 PM
From: Ritch  Read Replies (1) | Respond to of 8096
 
Look at it this way - Would he be better off selling on the open market at $89, or selling them to you at $170? If the stock is trading below $170 at expiration he will exercise the puts.

Ritch


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