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

To: rudedog who wrote (31561)	8/26/1998 12:20:00 AM
From: Tony B	Read Replies (2) \| Respond to of 97611

To all, re: exercised options. To get right to the point, I had written Aug 35 calls against my position in Compaq Computer (CPQ). CPQ closed on expiration day last Friday at 35 5/8. I assumed my stock would be called away. Guess what: my shares were not called. I just spoke to Schwab. They confirm that my shares were indeed not called. The service guy said that sometimes calls as much 3/4 in the money are not called. It is just random. I also asked if it were possible that some, but not all, of my position would be called. He said yes, but VERY unlikely as it is almost always all or none. Can anyone share a similar experience or is this just an unusual case were I got "lucky". This experience may change my strategy as I decide whether to buy back very slightly in-the money calls near expiration rather than risking having my shares called. This also kinda kills the "manipulation" talk of making these Aug 35's expire (Goldman) talked about here recently. Being even 1/2 pt in the money doesn't necessarily guarantee the option is exercised. Thanks in advance to all. Good Luck TB