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Non-Tech : Any info about Iomega (IOM)?
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To: Jocund Yoyo Leo who wrote (7669)9/25/1996 9:36:00 PM
From: Andre Lukas   of 58324
 
What is the strike price for that covered call? If it is high enough and IOMG never reached that price on expiry, you got yourself $1.375. However, I doubt it. Your 1000 shares might have been called. In that case you made a decent profit.

You do not sell covered calls when the stock is in an upward trend because you might have to kiss your stock goodbye. When the stock settles in a trading range, then you sell the call with the intention of collecting the premium while retaining the stock upon expiry date. Therefore, selling covered calls at this time is not the best time.

Remember, when you sell covered call, your shares are tied up until expiry or until you close the position (buy back the call) which could be for a loss (when the stock price moves up) or for a profit.

Good luck

Andre
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