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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (10020)	11/28/2012 11:50:23 AM
From: Wayners	Respond to of 10027

At least one more bid coming in, said to be higher than 3.50 from Virtu. Black Rock might bid. Holding the calls for now. The options MM are such crooks, bidding over a dime less for the options than what they are intrinsicly worth. I don't think I have the cash to exercise, but maybe my broker will let me excercise as long as a sell the stock immediately or as part of the same transaction.

To: Glenn Petersen who wrote (10020)	11/28/2012 10:36:15 PM
From: Wayners	Read Replies (1) \| Respond to of 10027

Virtu was all cash at $3. Doesn't help me at all. Don't think a higher bid will come in. Exercised the deep in the money options and sold the stock. Had to call up the broker to do it, they called it a cashless exercise. Saved me bank because the options were deep in the money and the the rip off artists wouldn't even bid the intrinsic value. I'll pay the spread one time on entry, but never twice. They were trying to steal thousands upon thousands of nickels from me. Screw 'em. Cashless exercise. What I found interesting is that when I had the guy on the phone, he shorted the stock first, and then exercised and then he covered the short with the stock to close out the position. I asked him why in that order. He said if the stock is moving, we like to get that out of the way first. From a risk standpoint I'd exercise first, then just sell it.