What can I do? Message I had Aetna stock options, expiring that day, 4 hours to call, I was 2 hours to late.

Question

Message on answering machine that I had Aetna stock options expiring that day & I had 4 hours to call. I called & was 2 hours too late. I was not aware that I had these stock options at all. This is very upsetting because I really need the money. We are having a hard time right now, I am working 3 jobs & my husband is working 2 jobs. My dept. was laid off when Aetna bought Prudential. We all cashed in our stock options and were unaware we had more. Since I left in 2002, I have not received anytthing. I let somone know that I worked with what happened so he called and found out he also had stock options but his expire 1//2009 so he is able to cash his in. He was also unaware & never received anything either. UBS told me that I am suppose to be receiving yearly statements and that Aetna could re-issue my options. I have talked to several people at Aetna & everyone tells me something different. Is there anything that can be done or did I lose out on the money?

Answer 1

Why waste time missing money you never knew you had?

Your ignorance and sloth have cost you this time.  I hope you learn your lesson.  You will not be able to get the money or options back.

Answer 2

This sounds fishy. Standard stock options for June '08 won't expire until the 21st. Maybe these are non-standard options with an unusual expiration date. Beware of possible scams. Especially considering that you believe you had already cashed out all your options in 2002. I'm thinking perhaps this might be someone trying to pull an "Advance Fee Scam" on you. Keep calling around but be extra careful if someone CALLS YOU. Ask to call them back at a company number.

Answer 3

If your options were profitable by a minimum amount then they will automatically convert to stock when the option expires accoridng OCC rules. So you did not lose your money, you just have it in stock now. The question is where is it? And to find out you have to check with the people that had the options (whoever called you). But in short I dont think you lost the money.

Answer 4

You need to call the HR department or ask an attorney.

And ignore the posting by "alex" and don't worry about a scam.  I'm sure that he means well but he thinks that you're talking about trading options on an exchange through a broker and not receiving them as part of a compensation plan.