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To: rhet0ric who wrote (11187)	4/14/1998 1:42:00 PM
From: Eric Yang	Respond to of 213173

April options expires on April 18th which is this Sat. Thus the last day of trading is Friday the 17th. Your broker will "exercise" your in the money options for you as late as this weekend but Friday is the last day you can buy or sell those options. Eric

To: rhet0ric who wrote (11187)	4/14/1998 6:40:00 PM
From: soup	Read Replies (4) \| Respond to of 213173

rhet0ric: I just checked with Schwab (other brokers may do things different) regarding some April $25 calls I have. 1) I can trade them up until 4:00 PM Friday the 17th. 2) I can exercise them until 5:30 PM Friday the 17th. 3) If I choose to do nothing, and they close out more than 3/4 point in the money, Schwab will automatically exercise the options and subsequently sell the stock (with double commissions - nice for them) on my behalf -- unless I give them instructions to the contrary. 4) I was worried that with 13-14,000 open interest, that everyone looking to sell their shares prior to expiration would force the price down below intrinsic value (difference betweeen stock price and exercise.) The broker said he had never seen that happen, but that he was fairly young. However if the price did fall below intrinsic value I or Schwab would just exercise the option and capture the spread that way. 5) He also said, somewhat amazed, that he had never seen an open interest this large. Oy. soup