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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (4374)	5/15/1998 5:52:00 PM
From: Mark Myword	Read Replies (2) \| Respond to of 164684

>>I will take assignment for my May $100 Amzn puts on Monday << Jan - if you're being assigned , it means you wrote the puts; you end up long , not short , the shares. The other side exercised, and forced you to buy the shares from him - he "put them to you" so to speak. If you want to end up short , write in-the-money calls on stock you don't own - it's a great way to end up shorting , and collecting premium too...works only on issues that aren't a "hard-to-borrow".

To: Jan Crawley who wrote (4374)	5/15/1998 8:42:00 PM
From: charlie	Read Replies (3) \| Respond to of 164684

The may 100 put expired today in the money, so your broker decided to excise it for you (sold to somebody for 100/share). Since you do not own any shares, you are short until you cover. So the story is correct. Seems like you are lucky to have made some money of this junk store. Charlie

To: Jan Crawley who wrote (4374)	5/15/1998 9:28:00 PM
From: gbh	Read Replies (2) \| Respond to of 164684

Hi Jan, your premise is correct. You should see a $20000 credit to your account (minus commission, usually the regular broker commission, not the internet commission, at least at Lombard). Your short basis is $100 minus whatever you paid for each contract. Be careful of one caveat. The broker could "force" you to cover right away based on its ability to borrow these shares. Make sure you ask about this. Gary

To: Jan Crawley who wrote (4374)	5/16/1998 8:05:00 AM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 164684

I will take assignment for my May $100 Amzn puts on Monday morning; indirectly, it translates into that I would be "shorting" the Amzn raw shares on Monday after opening; I would be shorting 200 Amzn raw shares until I purchase them and close them indefinitely... Jan, I am not clear on your position. I assume you bought puts at strike of $100 and did not write puts. If you own the puts, you have the right to make an assignment not take assignement of 200 share at a strike of $100. This means you are in fact selling 200 shares of AMZN you do not own and that would make you short 200 shares. However, if the brokerage house does not have shares to short, you will be short shares during the open on Monday but the brokerage house has a right to force you to cover. Thus, they will buy your short to cover in your account and you keep the profit the sames as if you sold your puts on Friday assuming the stock is about the same price on Monday. If they do have shares, you will be short raw shares until they force a cover which may be never. Did I makes sense?<G> Glenn