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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Xpiderman who wrote (49106)	3/1/1998 7:59:00 PM
From: chuckie	Read Replies (1) \| Respond to of 186894

What do you guys think about Intel April 95 calls? By the way feel free to visit my Page: The Intel Page home.sprynet.com Good Luck to all.

To: Xpiderman who wrote (49106)	3/1/1998 8:17:00 PM
From: Sonny McWilliams	Read Replies (1) \| Respond to of 186894

Xy. Re: Does anyone think Intel will issue new warrant? Who knows. But IMO it would be pretty stupid. If they were planning to do this they could have put an extension on the warrants which I was hoping for. Coming back to those warrants and the brokerage. Hm. Interesting thought. I had my warrants in street name. I can't imagine that a brokerage could convert without the permission of the holder. Even though it is in street name, it is NOT their warrant. My broker can't buy, sell or convert without my permission. I think it would not be legal. And if an owner would have missed the boat on a conversion or sell, I am sure they would check with their brokerage and Intel to see what happened. No, I don't think a brokerage house can convert for themselves. Come to think of it. If I had not converted I am sure that my account would show a worthless warrant when the time came. I had a stock once that became worthless (sigh but not because I forgot to convert) and it still shows up on my account after years and years. What would happen if you ask your brokerage for your worthless warrants for memories sake? gg. Sonny

To: Xpiderman who wrote (49106)	3/1/1998 8:57:00 PM
From: Barry A. Watzman	Respond to of 186894

I asked Schwab if they would automatically convert warrants on which the account holder had not acted and which were due to expire worthless. They said that while this is sometimes done with in-the-money options, it would not be done with warrants. Apparently there are some timing issues with the warrants having to do with the fact that they stop trading on 3/10, but do not become technically worthless until 3/13, coupled with the "settlement" period and the time required for Schwab to get the warrants to the transfer agent, that in the case of these warrants would make it impossible for Schwab to conclude that an individual was not going to either sell or exercise them until after it was too late for them to do so. I didn't follow all of the answer, but the bottom line was that the warrants would, indeed, be allowed to expire worthless if the account owner did not act.