The Covered Calls for Dummies Thread Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Covered Calls for Dummies Thread

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Uncle Frank who wrote (2304)	9/9/2001 9:55:13 AM
From: Gary E	Read Replies (3) of 5205

Uncle Frank and Everyone, I am posting this to UF only because of the trade results shown here.. I NEED some help...... ------------------------------------------ 8/2: sold qcom sept70 for 4.30 8/16: bought qcom sept70 for 2.15 8/24: sold qcom oct70 for 4.00 8/30-31: bought qcom oct70 for average of 1.98 Proceeds: 4.17/sh. (disregarding commissions). ------------------------------------------- Now to my questions...and what I dont understand about the process..... On 8/2 QCom was worth $68 per share... Now it's worth $49....... While, according to the trades shown above a $4 profit was made but a LOSS on the stock amounted to $19....or maybe it's a rich uncles game and $4,000 profit was made on the calls....but that would mean that $19,000 was LOST on the principal...pardon me, but how is this a win? Or are you selling calls on stock you dont own?.. Thanks Hal

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next