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

To: go_bucks who wrote (49298)	3/3/1998 11:48:00 PM
From: Thomas M.	Respond to of 186894

intel.com intel.com Tom

To: go_bucks who wrote (49298)	3/4/1998 12:05:00 AM
From: Barry A. Watzman	Respond to of 186894

Charlie, Your ignorance COMBINED with the closeness of the deadline is frightening. GET ON THE PHONE WITH YOUR BROKER TOMORROW ! ! These warrant stop trading FOREVER next Tuesday, and become absolutely WORTHLESS next Friday. In some cases, some actions will require a three day waiting period (the normal 3 day settlement period) PRIOR to a final action. Also, in some accounts, such as IRA's, it may be LEGALLY IMPOSSIBLE to add the funds necessary to do a conversion if they are not already in the account. You need to get in contact with your broker IMMEDIATELY. For warrants held by the broker in a "street name", the options available to you and the amount of time required in advance of the official deadlines are controlled, in part, by the brokerage firm and vary from broker to broker. IF YOU SCREW THIS UP, THE WARRANTS COULD BECOME ABSOLUTELY WORTHLESS, LITERALLY, AND YOU WOULD NOT HAVE EVEN ONE CENT LEFT. You still have six days, four trading days, which is probably JUST enough for ANYTHING that you might have to do. But the clock is ticking, and at this point inaction -- especially if you are "confused" -- could be absolutely disastrous. You PROBABLY have two options, either sell the warrants outright, or tell your broker to "exercise" the warrants and convert them from warrants into stock. Exercising them will require $20.875 per warrant ($20,875 for 1,000 warrants) PLUS whatever fees the broker charges. Where you could get hung up is if you don't have that much cash in the account, especially if it's an IRA account (in which you can't simply add the cash because of the $2,000 per year contribution limit) (although, since we are between Jan 1 and April 15, you could put in $4,000, $2,000 for 1997 and another $2,000 for 1998, IF you had not previously put in any money for 1997). In this case, you only option would be to sell the warrants, or at least to sell enough of them to give you the cash to convert the rest. In the latter case, the sale might have to "settle" (which takes 3 days) BEFORE the cash could be used to convert the remaining warrants, which starts to REALLY push, if not exceed, the deadlines. Intel's deadlines are NOT your broker's deadlines, for example Intel's deadline for exercising is next Friday, but Schwab's deadline for warrants held in Schwab "street name accounts" (which is almost all of them) is three days EARLIER, on Tuesday, even for conversion.