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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: miklosh who wrote (38505)	12/7/1998 10:41:00 PM
From: Knighty Tin	Respond to of 132070

MIk, It works like this. You call your broker and say you want to exercise your put. Assuming you are deep in the money, you can do this two ways. Let's say you have a $50 strike price put and the stock is at $30. 1. You can go out and buy the stock at $30 and deliver it to the put seller at $50, making your $20 profit that way. 2. Or, you can tell your broker to deliver stock to the put seller without really buying it. You will effectively be short at $50. Your hope there is that it will go even lower than the current $30. MB