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 (3871)	8/14/1997 1:04:00 AM
From: glspence	of 14162

Herm or steve....question regarding option expiration day this Friday. I'm looking sell some PG calls to close my position. What would be the best way to go about doing this while attempting to secure the best price. PGHH is ITM by about 1 point but the last price I get is 4 1/4. I noted that the bid/ask was 2 3/8 - 2 3/4. Does this mean that somebody bought that option for 4 1/4 today? I'm confused, why would anybody buy it at all with only one day till expiration, especially at that price. Would you enter a limit sell order, if so at what price. Is there a danger in waiting until the last day, since those shares may be assigned. Thanks for your help. Gary

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