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  • star17shines star17shines Jul 13, 2012 5:42 PM Flag

    Exercise Your Options, Dont let them Expire

    I had $605 options, I insisted my broker Exercise them, they are doing it!
    I paid a premium for those puppies, 12.50 per piece X 3= 3760.00 with commish
    If I am going to lose $3,760, I might as well exercise the options and wait for Monday
    with a pop of $10-12, I could get most of my money back. Luckily I had enough money
    to exercise them on MARGIN. I needed 90K in account, I only had 78K, so I transferred
    money to make sure all 3 options were exercised. I wont allow premium holders to get
    away like this. One time I exercised June 550 calls for $546 and my broker thought I was
    nuts but after I told him I spent 6,000 on premiums that I would not take a loss, and sure enough
    8 days later I sold all 600 shares for 572/share. I make them exercise the options because they
    attempt to manipulate them on Fridays, weeklies. I personally will not allow them to do it, Once I
    had 17 contracts and I could not make them exercise it because I did not have the funds but I did
    make them exercise 2 of them for which I did have the funds. Sure enough, after holding for several
    months, I made a 5K profit on top of recovering all monies on the option premiums. I dont care what
    the broker says, I make them Exercise the Options. Infact I insist on it.

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