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

To: Don Lloyd who wrote (56128)	4/15/1999 12:28:00 PM
From: yard_man	Respond to of 132070

You're right Don -- What happens often on the day of the split if you have a rummy e-broker is they don't update the symbols until somebody calls and complains ...

To: Don Lloyd who wrote (56128)	4/15/1999 12:34:00 PM
From: Joss	Read Replies (1) \| Respond to of 132070

Hi Don, My most recent example of the procedure I described was citibank last year. I did not receive extra options reflecting the split as has been your experience but retained the original 10 options. The remaining action was as described. I would agree with you that if they doubled the options that the volatility would be maintained at the lower strike...but this is not what happened. It is also not what happened in Tommaso's case by his explanation. This method of handling options was discussed on this thread late last year as both MB and myself had some of the Citibank puts. I wish I had a link for you but that is too long ago. Sorry. Steve