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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Sonki who wrote (6232)	8/3/1998 2:04:00 AM
From: Rohit Nanavati	Respond to of 22640

Sonki, Good move. RN

To: Sonki who wrote (6232)	8/3/1998 4:04:00 AM
From: Ronus	Read Replies (1) \| Respond to of 22640

Sonki, just out of curiosity, how much do those LEAPS cost? The time premium, due to the volatility must be HUGE, isn't it? I don't know anything about the conversion of LEAPS after TBR stops trading, but allow me to add to your confusion and ask the following question: (this applies to options AND LEAPS) if I choose to exercise my AUG110 call, which I bought prior to the auction, will I take posession of the underlying (in this case TBR, since I bought the call BEFORE Jul29th)? And if so, what are the costs of converting those shares into the 12 different babytelcos? What would the difference be if I exercise a call bought after the 29th of July? Could exercising an option purchased before the auction save some transaction costs? Thanks!