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

To: Wayners who wrote (10468)	4/18/2001 4:30:26 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 10876

You better let Poet give you an answer to that I have never held anything unless it expired worthless? I assume if it's in the money you get the profit? If you have a choice. Does it always mean shares are put to you? I know that is how some people buy their stocks?...I only trade options for entertainment<g>

To: Wayners who wrote (10468)	4/18/2001 4:57:59 PM
From: Jeff Jordan	Read Replies (2) \| Respond to of 10876

email notice from cybertrader... All April 2001 equity option contracts will cease trading this Friday (April 20th) at 4:02 PM EST. In accordance with OCC regulations, long equity option contracts will be automatically exercised if in-the-money by 3/4 of a point or more. Short equity option contracts will generally be assigned against you if in-the-money by 3/4 of a point or more. However, short options could be assigned against you even if they expire out-of-the-money. In order to avoid a margin call, please make sure you have sufficient overnight buying power to assume the equity position(s), if your long option(s) are automatically exercised. If you do not have the sufficient overnight buying power, you should close out the position(s) by 3:00 PM EST on Friday. Similarly, if you have short equity option position(s), please make sure you have the required underlying equity position, and/or sufficient overnight buying power, should your short option(s) be assigned. If you do not have the required underlying equity position, and/or sufficient overnight buying power, you should close out the position(s) by 3:00 PM EST on Friday.