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To: B.REVERE who wrote (34751)	4/19/1999 8:59:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 86076

I am lost with what you are asking.

To: B.REVERE who wrote (34751)	4/19/1999 9:09:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

B. If the put was in the money by a point -- there may be a provision that your broker automatically exercises the put option if more than 1/4 point in the money. If that is the case and you don't own the shares -- they would effect the purchase for you at the close in order to put the shares to someone at 90. So if you were forced to buy ASND at 89 for example and then they put the shares to someone at 90 -- guessing from you discussion that had 2 (or some multiple of 2) puts. This owuld mean that you reap the 1-point profit. The problem comes when the commissions are more than the profit. The automatic exercise of in the money options is a protection to the option holder -- should one forget and have options that are valuable and forget to sell or exercise them -- does that make sense? If not send me a PM.