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I shorted SNE directly 200 shares when the trade was recommended. I also bought 2 JAN 22 calls. I just got an assignment notice from scottrade. What am I supposed to do?


"Please be advised that you have been assigned on a short option position in your OptionsFirst account. Assignment requires you to either buy or sell the underlying security per the conditions of the option contract. This may significantly impact your cash and margin balances.

If the assigned position is a cash-settled index option (i.e., SPX, NDX, DJX, RUT), the difference between the strike price and the settlement price will be debited from your account per the conditions of the option contract.

Please note that if a Regulation-T margin call is generated due to this assignment, you are allowed to liquidate securities only today to meet this margin call. If you do not liquidate securities today, you will be required to send in additional funds to meet the margin call.

You have been assigned on the following option:

Position:

SNE Jan 13 5.00 Call / 100 shares per contract

Summary:

sold 200 shares of SNE

Account Number:

****3130

Customer Name:

David Cook

Account Type:

Margin

Option Symbol:

SNE

Fill Price:

$5.00

Confirm Type:

Assignment

Contract Quantity:

2

Shares per Contract:

100

Underlying:

SNE

Commission:

$17.00

Regulatory Fees:

$0.06

Net Proceeds:

$982.94

Settlement Date:

09/27/2012

Other Fees:

$0.00
"
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Hi davidac123 - I'm in the same situation. The shares were assigned to me but I'm not sure what the next steps are. Hopefully, you'll get a response soon.
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I'm so glad I got into SNE when it was only at $21. I felt like the company overall turned the corner, and so far that seems to be true.
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It seems like SNE investors are jittery at the grave reviews of the Dark Tower, but the film only cost $60 mil, and they already made $27.
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