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 (13780)	7/18/2001 3:11:49 AM
From: Newton Yuen	Read Replies (1) of 14162

Herm: I have a question on AT&T. When they divested, I received 32 shares of AWE for every 100 shares of AT&T I owned. I earlier had sold July 20 options against my AT&T shares. My question is: When the buyer exercises (most likely) this Friday, am I giving up only the AT&T shares or do I also give-up the 32 shares of AWE. I know the July 20 options did jump from about $1.00 to $6.00 which based on my calculation is the value of a share of AT&T plus AWE. Should I cover the call and sell new calls on AT&T and AWE or just let it get called away? Thanks

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