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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Jpres who wrote (6475)	1/16/1998 11:10:00 PM
From: Hunt	Respond to of 14162

John, Expiration day in reality is saturday, The options clearing house will assign to the different brokerage houses which options and how many will be assigned. On tuesday, those brokerage houses will assign to their clients the options that are attached to them. I am with Schwab, they let me know usually between 7 and 10 Pacific Time what has happened to my options. Tuesday's price has nothing to do with whether or not you were exercised.

To: Jpres who wrote (6475)	1/16/1998 11:40:00 PM
From: Douglas Webb	Read Replies (1) \| Respond to of 14162

I've heard of people who's brokers couldn't say for sure what was called and what wasn't for several trading days after expiration, but that's certainly not the norm. The few times I've been assigned, the stock was gone from my account before the opening on the next trading day, which is when my account is normally updated online. Calls which expire worthless have hung around for a day or two longer before they disappear. You probably don't have to worry if the stock closed $1 below the strike price. If it was real close, either above or below, then there'd be uncertainty. If the stock traded for well over $25 today, there would also be uncertainty. But if it was down all day, you're fine. Doug.