Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Dave Triplett who wrote (35358)	2/22/1998 10:06:00 PM
From: Darth Trader	Read Replies (1) \| Respond to of 58727

Dave, what was your holdings going into expiry Friday?

To: Dave Triplett who wrote (35358)	2/22/1998 10:08:00 PM
From: Alan Smithee	Respond to of 58727

Dave: You might want to ask Lisa about her experience last April (I think) with CCI puts. Better yet, search back through the archives. Might want to check for posts from the Friday of expiry week on this thread.

To: Dave Triplett who wrote (35358)	2/22/1998 10:35:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

Evidently. I knew you would be exercised, most likely, if you were short an option that was in the money by an eighth or more. There are a number of people I could call, this options guy seemed to be the best bet as I know he must be an ROP. He traded OTC equity options on Salomon's desk for years. Sorry I cannot be of more help. I suppose if you think about it, it makes sense. Whoever is short the puts has to have the stock "put" to him or her, so you have to cough it up.

To: Dave Triplett who wrote (35358)	2/22/1998 10:48:00 PM
From: Patrick Slevin	Respond to of 58727

Just got thru to my friend. He says you're hummed. You should have called them and given them specific instructions not to exercise. Of course, with the close at 34 and a steenth it cannot be all bad. Side note; he laughed when I mentioned CPQ. Turned out he made most of the volume on the March 35s on Friday with a 2500 put trade. I should have asked which side of the trade he was on. Anyway, that's the story. Schwab was not at fault, the OCC "assigned" them to deliver the stock.