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Technology Stocks : PairGain Technologies -- Ignore unavailable to you. Want to Upgrade?

To: ENOTS who wrote (23073)	4/17/1998 12:27:00 PM
From: William G. Murray	Read Replies (1) \| Respond to of 36349

Actually, the option holder (buyer) has the right to exercise the at any stock price price they want. (It's their decision if it is a money making proposition or not.) Also note that on option Friday, the option holder has until 4 PM EST to advise his broker to exercise. So if a company were to make a big announcement just after the regular market closes (3:00 PM EST), the option holder still has the chance to exercise. Imagine watching the calls you wrote supposedly expire worthless when the Friday "close" is below the strike price only to find out Monday they were exercised at the last minute due to a big news story. Stranger things have happened.