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To: atxguy who wrote (59956)	8/20/1998 5:07:00 PM
From: Ben Antanaitis	Read Replies (2) \| Respond to of 176387

The last day for options trading is the third Friday of the month. All of that month's options expire on the day after the third Friday, ie this Saturday. If you are holding options that are 'in-the-money' over a brokerage house predetermined 'threshold' at the end of the trading day Friday, they will be auto-exercised and you will have to come up with the money to cover the purchase of the shares that will be assigned to you per the contract. You cannot dispose of the option on Monday, it no longer exists, you can only come up with the cash to buy the shares and cover the transaction costs. If you do not have the cash, or margin, in your account, you cannot say 'sell them and I'll just keep the difference' to the broker, that would be a violation of the 'settlement rules'. Read the rules of options trading at the CBOE web site. Esp. the section on the risks to 'in-the-money' option holders. Ben A.