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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Dave.S who wrote (14864)	11/20/2000 10:50:10 AM
From: kdavy	Read Replies (2) \| Respond to of 19080

I still have shares in my account. Here is how it was explained to me. If you are long options: it is a right to buy the stock at the strike price. Where as if you are short (covered calls) I have an obligation to sell (not a right). Charles Schwab (my broker) explained to me that the instructions to exercise can be placed up to 5:00 pm. So any news or change in stock price up to that time can influence the decision to assign the shares. Generally, if the options are $0.75 in money, it is automatic assignment. In my case (as explained to me) the person on the other side chose not to exercise. So I still have shares and a better knowledge of how options might work. The options trade takes place through a company called options Clearing. They have a web sight with rules and regulations. It is very instructional. WWW.optionsclearing.com Thanks all kdavy