is this even remotely possible -assigned FAR OTM option

[darwin666]

ok. this just doesnot add up. but hear me out

http://www.google.com/finance?q=NYSEARCA:VXX&ei=pJgCU-ikILLrsQeBZA

this closed near 42.. my friend and I were both short.. me 63 and he was short 64 strike.

on friday at close he got ASSIGNED 4 contracts at 64.??
does this even make sense 22$ OTM??
it is showing up in his account as short 400 shares at 64??
so does he close this on tommorrow tuesday AM for a cool 8800 profit?
i suspect this is a reconcilation error on part of the broker and it will nulled later?
ha ha. i am mad that my 63 calls were not assigned??

 

[Bry]

ok. this just doesnot add up. but hear me out

http://www.google.com/finance?q=NYSEARCA:VXX&ei=pJgCU-ikILLrsQeBZA

this closed near 42.. my friend and I were both short.. me 63 and he was short 64 strike.

on friday at close he got ASSIGNED 4 contracts at 64.??
does this even make sense 22$ OTM??
it is showing up in his account as short 400 shares at 64??
so does he close this on tommorrow tuesday AM for a cool 8800 profit?
i suspect this is a reconcilation error on part of the broker and it will nulled later?
ha ha. i am mad that my 63 calls were not assigned??

At 64 strike, puts would be deeply IN the money, calls would be way out of the money. Yeah, puts could be assigned to your friend. Calls not assigned because way out of the money.