def, I undertand all that. My point is this, it's not 1989, many traders can do 10 options or more for under 50 bucks, and the exception, where you don't want to excercise, should be the one you have to call in. Default should be 25 cents for all , and no more. I see where a stock could be manipulated into closing, sticking call or put buyers with a bad fill, only to find the stock reversing hard on Monday. Of course , they could (do?) that now anyhow. I did find it interesting that Don Bright also thought it was 25 cents for all. He's been in the business a long time. Don, where do you stand on this? I am sure of only one thing, they won't get *me* again.