FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DISANTO FRANK J
   2. Issuer Name and Ticker or Trading Symbol
COPYTELE INC [COPY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
C/O COPYTELE, INC., 900 WALT WHITMAN ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
10/27/2006
(Street)

MELVILLE, NY 11747		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/27/2006   M   250,000 A $ 0.4 1,235,905 (1) I Indirect (2)
Common Stock 10/27/2006   M   350,000 A $ 0.25 1,235,905 (1) I Indirect (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (3) $ 0.4 10/27/2006   M     250,000 03/20/2002 09/19/2011 Common Stock 250,000 $ 0 0 D  
Employee Stock Option (4) $ 0.25 10/27/2006   M     350,000 05/06/2003 05/05/2013 Common Stock 350,000 $ 0 400,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DISANTO FRANK J
C/O COPYTELE, INC.
900 WALT WHITMAN ROAD
MELVILLE, NY 11747		   X     President  

Signatures

 /s/ Frank J. DiSanto   10/31/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Certain of the shares reported as beneficially owned by the reporting person may have been sold by Edward A. Ambrosino, a receiver for certain of the reporting person's assets appointed in a divorce proceding, pursuant to a court order authorizing Mr. Ambrosino to cause the sale of such shares. However, the reporting person has not been notified by Mr. Ambrosino as to the number of shares sold.
(2) The reported shares are held in an account of Mr. Ambrosino.
(3) Right-To-Buy, pursuant to the Copytele, Inc. 2000 Share Incentive Plan. The reported exercise was effected by Mr. Ambrosino pursuant to a court order authorizing Mr. Ambrosino to exercise such options.
(4) Right-To-Buy, pursuant to the Copytele, Inc. 2003 Share Incentive Plan. The reported exercise was effected by Mr. Ambrosino pursuant to a court order authorizing Mr. Ambrosino to exercise such options.

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