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Strategies & Market Trends : Picks of the quarter
ATHR 5.840-3.9%Dec 26 9:30 AM EST
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To: Mike McFarland who wrote (3615)6/24/2007 1:31:48 AM
From: Elroy  Read Replies (2) of 20435
 
Ok, the brain is not working too well, and I've got loads of other stuff to do, so if someone can remind me how to calculate covering a short position, that's be most useful.

Here's Cashboy's GOOG short position:

Cashboy
Stock Price Shares Value Cost Change
GOOG $524.98 0.108 $47.61 $483.52 9% Short

And he covered at $504.77 on June 12th. So we can take the shares (0.108) and multiply by the cover price ($504.77) and get $54.36 he needs to come up with to cover his GOOG. But.....where does that cash come from - he doesn't have any cash. And do we multiply it by 1.01 or 0.99 to add in the 1% trading commission? This might be the first short covering we've done, and I've got other stuff to do at the moment. If someone wants to throw out the formula I'd appreciate it....
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