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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Dan Duchardt who wrote (1668)	7/30/2001 2:25:35 PM
From: RP Svoboda	Read Replies (1) of 5205

Thank you all for the responses. Based upon the replies and a call to my brokerage I now know that I need to cover my short position if it moves against me and I think it will be ITM at expiration. I was told that they would first use whatever stock I have long to cover, then I would be short for the remainder. NOT a position I want to be in because of tax implications. I put in an order to sell the Aug 70s which should fill if Q drifts up to about 67 in the next two days. If not I will have to take the market since I am packing up and moving and will not be able to watch closely for the next week or so. Boda

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