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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: SecularBull who wrote (7731)	5/8/2000 1:50:00 PM
From: London Brian	Read Replies (2) \| Respond to of 8096

Can anybody give me some help on this? I was trying to write put on VSTR and I accidently wrote something from a merger I wrote 3 contracts of UVX QT (may 100) VSTR is currently above 110, but I cant figure out what will happen if I get assigned the puts, and at what price assignment will (likely) take place. CBOE says "... each adjusted Omnipoint Corporation contract will require the receipt or delivery of: (A) 82 shares of VSTR Common Stock, plus (B) $800.00 cash, plus (C) cash in lieu of 0.50 fractional share of VSTR Common Stock. Premiums for the adjusted Omnipoint Corporation options will continue to be calculated on the basis of a multiplier of 100, i.e., for premium and strike-price extensions, 1.00 will equal $100. The Omnipoint Corporation option symbols will change to UVX or YTL, as the case may be. [Any FLEX series that may exist will be adjusted in a similar manner to the standardized option.] Thanks, Brian