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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: dougSF30 who wrote (1833)	7/21/2000 4:15:27 PM
From: Gopher Broke	Respond to of 275872

it the regular closing price that determines whether or not your broker will exercise for you? It is the closing price. I allowed an auto-exercise last quarter to see what happened. I was informed by my broker (DLJ) that the options board had notified them of the auto-exercise, so it seems it is not your broker that does it. What surprised me was that DLJ told me if I had not been available to give instructions then they would immediately have sold the shares, despite having cash in my account to cover the purchase. when is the deadline for asking your broker to exercise? Like any other transaction (excluding OOH), your order must be in before market close, if the option is below the auto-exercise price.

To: dougSF30 who wrote (1833)	7/21/2000 4:16:44 PM
From: Goutam	Respond to of 275872

Doug, > Wooah, is that huge A/H buying I see? I believe that it's just a late trade/report. It will count as the regular closing price. Is it the regular closing price that determines whether or not your broker will exercise for you? I believe so (based on some old posts on this thread). I think July 80 calls will be automatically exercised by most of the brokerage houses. If AMD recovers on Monday, July 80 option holders can make or recover their money depending on each individual's situation. Goutama .

To: dougSF30 who wrote (1833)	7/21/2000 5:31:17 PM
From: TGPTNDR	Respond to of 275872

DougSF30, In the case of the Aprils I think I remember the auto exercise being on the afterhours price. It was slightly below $75 at the close and around $75.50 in after hours.I checked my account and found a buy order for the shares at the aftermarket close and a sell at the open posted in my orders for the represented shares. I called my broker on Saturday and asked them to exercise and keep the stock. They told me that the stock was auto exercised, but would have been sold first thing Monday had I not requested a 'No Sale'. Since the timing is supposed to be Friday before close they asked me to call in on Monday prior to open & get a trader to verify the 'No Sale' condition. I did and it all went well. Hope this helps. tgptndr