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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: Tony who wrote (795)	3/29/1998 1:18:00 AM
From: ----------	Respond to of 2241

Hi Tony; I think I can get this one correct. 1) You pay stock commission. You are selling stock. Your transaction confirmation may say "vs. option exercise" or something similar. 2) Generally, when a transaction occurs in an account, a confirmation is generated that day & mailed the following day. When you actually find out is up to the U.S. Postal Service.<g> If your firm phones you, you will get notice the day it is exercised. If it's an internet account it may be posted the same day it is called. If you look back at Michael DePinto's explanation of "rolling options", you'll understand the necessity of you knowing where you stand before expiration. Regards, Doug