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Oncolytics Biotech, Inc. Message Board

  • hgff101 hgff101 Feb 15, 2013 8:12 AM Flag

    Warning to long Feb Call holders

    If you have a large Feb 5 call position and expect it to expire, be very careful and watch the price of ONCY into the close. If it closes at $5 or better, your calls could be automatically exercised.

    If you have a large call position that you expected to expire but which gets exercized without your knowledge, you will find a huge number of ONCY shares in your account Monday morning and more than likely a margin call so large, it could cause your account to be liquidated.

    If many Feb 5 call holders also got caught like you, there will be hundreds of thousands of shares that are forced to sell off to meet margin requirements, causing the price of ONCY to plummet.

    If you hold Feb calls that you expect to and want to let expire, be sure to instruct your boker to put in a Do Not Exercize instruction. Make sure you know your broker's time limits on when you can place such an instruction: some say 4:01-4:30, others anytime up until 4:15.

    Some of the kneejerks will read this post as some kind of bash. Be sure to understand my goal to to avoid a "surprise exercize" sell off on Monday.

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