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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (1816)	8/6/2001 5:02:12 PM
From: melman1	Read Replies (1) \| Respond to of 5205

I have talked to people who left open short calls into Friday evening only to find out on Monday they were assigned after some late day news ran the stock up after hours. It may be too late for you to call your broker after hours, and it is too late to buy them back, but it is not too late for the calls to be assigned. Dummy with a question here. Is it true that calls are assigned ONLY at expiration? I realize that the official definition of a call is "the right to buy at the strike price at any time prior to expiration", but in practice does anyone ever exercise before expiration?