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To: NHP who wrote (5685)	5/12/1999 11:44:00 AM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 60323

I have never heard of options that are in the money NOT being exercised. If a broker fails to deliver the shares at the exercise price automatically, the broker could be held legally accountable for breach of contract, not to mention violation of rules on option trading. While options trading can be risky, it can also be used as a CONSERVATIVE strategy for locking in profits (e.g., sale of covered calls). The important thing to consider, whether you use a full service or discount or online broker, is whether the price you get when you buy or sell is a good price. I happen to use a full service broker, and while the commissions are higher, I've been getting the kind of executions I never dreamed of before. Because SNDK options are rather lightly traded, as options go, getting a good price is essential in order to prevent losing your shirt.

To: NHP who wrote (5685)	5/12/1999 1:18:00 PM
From: Bruno Cipolla	Respond to of 60323

i had the options kept by my italian bank, i just told them to exercise friday, no problems. I'm currently doing online trading with discover, but they don't allow options for aliens. I've opened an account at E*trade just for the purpose of doing options. in 1997, owning several highly in the money sndk calls, i bought puts in order to lock my profits. B.

To: NHP who wrote (5685)	5/13/1999 1:26:00 AM
From: Craig Freeman	Read Replies (1) \| Respond to of 60323

NHP, be glad you aren't with Fidelity. If you do nothing with an in-the-money-call they first exercise it and then automatically sell the shares at the open on Monday! Not to mention that they charge you undiscounted, broker-assisted commissions twice. 99.5%+ of all options are never exercised. It's usually a better deal to close the options prior to expiration for a small premium and simultaneously buy the shares outright. Craig In my experience, Fidelity Brokerage provides excellent service and execution. Just be sure that you read your brokerage agreement thoroughly as some of its provisions are counter-intuitive.