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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (42966)	4/8/1998 8:17:00 PM
From: Glenn D. Rudolph	Read Replies (4) \| Respond to of 61433

I wrote some May 40 covered calls for $2 1/4. If Asnd reaches $42 1/2 sometime tomorrow, Would my shares be called away at that "moment" or I have to call and find out? Jan, Likely not. Typically options are not exercised until weekend after expiration. There a few exceptions but not many. Also, the buyer of those options are likely taking that position feeling scend will continue to climb and they will sell their calls at a profit rather than take stock. However, the market maker will end up with the call and call away your shares at expiration to pay for his expired calls<G> Glenn