The Covered Calls for Dummies Thread Message Board

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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: StockHawk who wrote (589)	5/16/2001 3:23:39 PM
From: BDR	Read Replies (1) of 5205

<<Has anyone ever done this?>> I haven't but I would think you would have to be notified immediately by your broker of the exercise and act that day to buy additional shares. I doubt you would get such service from deep discount online brokers. If you sell only a portion of your holdings, I believe it is up to you to decide which shares you are selling for tax purposes. But if you find out after the markets close that your calls have been exercised it will be too late to do anything about it. Buying the next day and trying to say that those are the shares that were called away the day before won't work unless you are allowed to play games with the difference between the trade date and settlement date. Long way to say I don't know.

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