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To: atxguy who wrote (60993)	8/26/1998 7:01:00 AM
From: Ben Antanaitis	Respond to of 176387

OK, look up "Fed-call." OK, I give up. What has this to do with owning DELL stock options? Ben A.

To: atxguy who wrote (60993)	8/26/1998 7:52:00 AM
From: Ben Antanaitis	Respond to of 176387

OptionKid, RE: Fed-Call strategy If the 'trader' did not have enough money in his margin account to cover the margin requirement for the purchase of the 'auto-exercised' stocks, on Monday, he would be in violation of the CBOE options trading rules, subject to a Fed-Call, AND if he tried to sell them, on Monday, 'to keep the difference' he would be in violation of SEC Reg T and subject to a 90 freeze on his trading account until 'full payment' was received. If a pattern of this occurs, then he can lose his margin account privileges and be forced into a 100% cash-up-front trading mode. Is this what you are suggesting one should do? Ben A. PS All others: Here is a good explanation of the definitions and implications of trying to sell-before-you-pay and how REG T comes into it. Also margin accounts and Fed-Calls: savoystocks.com