I once was stung by a broker. I rang up (before on-line brokerage or the Internet existed) and told the broker to sell some options if the were worth anything. I emphasised the last phrase "if the were worth anything". He duly sold them for about $20 and charged be $200 brokerage. I was net $180 in the red on that transaction. Your broker was your adviser in those days.
Of course, investment advisers would not do that these days because they would be thinking of the client and not their commission. Duty of care and all that.
Perhaps there were several small holders in the 8533 or perhaps the holders were not so aware of the market price or cheap online brokerage. Perhaps it was easier to exercise using the form WAX sent than trying to find a broker to sell the options.
Sorry, I wax lyrical
WAX Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
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