Traders Cooperative

[jmbar2]

Thanks Roy - another really informative post.

What I was trying to understand when I used the term exercise the put was what would have happened if I had not been able to sell to close the put on Friday. From what the E-trade guy was saying, I would have been on the hook for a bunch of money not in my account. This was news to me!

That's what I'm trying to better understand so that I don't do something catastrophic.

Since I had 2 put contracts at roughly 1.25 near the close of the day, if I had not been able to sell, would I have been on the hook for 200 shares of RIMM at market price?

Thanks again...