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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Spartex who wrote (21297)	3/20/1998 4:43:00 PM
From: Steve Fancy	Respond to of 42771

I suppose it's possible that brokerage houses may have their own flags on expiring options, but I don't think so. I know Paine Webber doesn't. If you have a decent broker, I would hope they would let you know or do it automatically for you, but at a discount broker I would guess you're on your own. Can anyone help with this? What I was referring to was the Options Clearing Corporation (OCC) who is the issuer of all listed option contracts. From "Options as a Strategic Investment" by Lawrence G. McMillan under "Automatic Exercise": "Even if a holder forgets that he owns an option and fails to exercise, the OCC automatically exercises any call that is 3/4-point in-the-money at expiration, unless the individual brokerage firm whose customer is long the call gives specific instructions not to exercise. This automatic exercise mechanism ensures that no investor throws away money through carelessness." sf