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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Herm who wrote (11497)	9/10/1999 1:13:00 AM
From: Dan Duchardt	Read Replies (2) of 14162

Herm, ROST I was asked to comment on our old friend and the first stock we discussed on this forum many post ago. ROST This stock is once again about to split 2-1 on Sept. 22, and the record date is Sept. 7, 1999. So, you must own ROST by the end of Sept. 7, 1999. I'm confused. What am I missing here?? I read the article about the split "in the form of a 100% dividend". Suppose I had bought 1000 shares of ROST before September 7 at around $41_1/2. Then a few days later (like today), I sold it at $40_1/2. Since I owned it on September 7, is this saying that come Sept 22 I'm going to receive 1000 shares of ROST, which will be worth at that time around $20 per share, plus the dividend? How can this be? If this is the case, anyone buying ROST now would be absolutely out of their minds!! Please explain what this means. TIA Dan

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