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To: hueyone who wrote (173459)3/11/2003 8:55:29 PM
From: Windsock  Read Replies (1) | Respond to of 186894
 
Re: "Stock options have a market price:

This statement from the academic world is absolutely false. An employee can sell their stock option in any market. The option may or not have value depending on many conditions.

For anyone doubting this, what is the "market price" an Intel employee can obtain for an option to buy 100 shares of Intel granted in 2002, having a strike price of $28 and vesting in May 2007? Does the value change if the Intel employee has career plans to leave Intel in 2 or 3 years?



To: hueyone who wrote (173459)3/12/2003 12:12:19 AM
From: The Duke of URLĀ©  Read Replies (1) | Respond to of 186894
 
You know, I don't know which is more meaningful, Robert Merton's diatribe on options which you cite, or his leadership at Long Term Capital Management.