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To: Byron Xiao who wrote (75939)10/30/1998 7:59:00 PM
From: divvie  Respond to of 176387
 
Nope, his options expire worthless, so he wasted that money that he gave to you, and you get to breath a huge sigh of relief (you simply get to keep the premium that you got at the beginning) because it is highly unlikely that DELL will be below 70 at that date. I second what Freeus said. I would not recommend these calls as they are too close to the current price. It is highly likely that you will get called on those. Either buy the calls if DELL dips on Monday or wait to see if it dips after some post earnings (11/12) profit taking.
But, before you do any of this, order the options video from the CBOE, read up as much as you can on options, go to the tech options thread and lurk around a while and keep asking questions here before you do anything.



To: Byron Xiao who wrote (75939)10/30/1998 8:43:00 PM
From: freeus  Respond to of 176387
 
re options
It is my understanding (and I am new to options) that when you buy an option you can exercise it or not as you please (or sell it of course). But when you SELL an option, the one who buys it from you has absolute say: if that one wants your stock they buy it and you have no say. If the stock is not wanted he/she doesnt buy it and you still have no say. If DELL closed below $70 obviously he/she wouldnt want it at $70 and you would not sell the stock.
Freeus


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