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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: MileHigh who wrote (7275)	9/18/1998 12:47:00 PM
From: Glenn D. Rudolph	Respond to of 93625

RMBS: HAMBRECHT&QUIST made new estimate for quarter ending 09/99 of $0.13 on 09/16/98 RMBS: HAMBRECHT&QUIST made new estimate for quarter ending 12/98 of $0.08 on 09/16/98

To: MileHigh who wrote (7275)	9/18/1998 2:06:00 PM
From: jopawa	Read Replies (1) \| Respond to of 93625

MileHigh,[OT] I had to rethink my earlier post. I surmised that you wouldn't get called away unless RMBS were to close above 56.5. I remember reading before that that is not the case. My understanding is that it's put in a big pool on Sat morning and split up accordingly, so that if 1/2 the OCT 50's are actually called, you would be assigned to pony up 1/2 your stake. Obviously, if the stock closed at 55, everybody would be called away, even the guy who bought your call, because he would get the common at 50, and he could presumably sell Mon am at 55, recouping 5 dollars of the 6 1/4 that he paid you. Trying to get a handle on this if I ever want to do it. Now, am I a little closer to the truth? John P.S. The only real question mark would be if the stock closed at say 50 1/2. Then not all shares would be called, because not everybody would want to take the risk of holding for what could be a Mon opening of perhaps lower than 50.