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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: bob yahnke who wrote (7279)	11/5/1997 12:13:00 AM
From: john dodson	Respond to of 14577

Wanna hear something REALLY weird? I had sold Jan, 98 7.5 calls for 1 1/2 last week to hedge a little bit on the downside. This is when SIII was about 8 1/2. Well, I checked my account today, and it turns out that I was exercised yesterday!!! Why in the h*ll would someone exercise me yesterday, and pay $7.5 for my 1000 shares of SIII? So, at the time, I guess I lost 8 7/8 - 7 1/2 = 1 3/8, but got to keep the 1 1/2 option premium. Seems very flakey to me. There's well over 2 months of life left on those options, so why would anyone exercise them? Since my average was 11, I gotta buy this dog back to avoid the loss, but it still seems weird to me. Wonder how low SIII will go? -John Dodson