How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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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 (12792)	5/24/2000 9:55:00 PM
From: robwin	Read Replies (2) of 14162

Hi Herm, Well, sounds good to me...i live in Canada and we get ticketed for anything that's out of the ordinary, lol... At the risk of further showing my inexperience, am I allowed to dictate the price I sell the stock short? In other words, SUNW is around $76.50...my average price for my 400 shares is $85.00...how can I be allowed to place an order to sell those shares short for $85.00 when the market for the stock is so much lower? If I can, do I not have a locked in profit? I mean if I short tomorrow at $85 and cover the next day at say $78-$80, don't i have a guaranteed return of $5-$7 dollars per share? Also, as you say, if you price increases from the short sale price, it is really a zero sum game...as a technical question...if the price increases to say $90.00...would simply sell my long shares at that price to cover the short position? sorry for all the questions...buy and hold was so borrowing....

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