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Technology Stocks : IBM
IBM 297.26-2.8%Nov 17 3:59 PM EST
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To: Anthony who wrote (2652)3/18/1998 9:27:00 AM
From: Rajiv  Read Replies (1) of 8218
 
You can buy back the option that you sold - to close out the
position.

e.g. If you sell 10 contracts of IBM (Jan 99, Strike 110).
You can buy them back anytime between now and Jan 99 (expiry)
to close out the position. If you choose to leave an open position
on the expiry date - it will expire worthless if it is out-of-money
or it will get called away if it is in-the-money.

Regards,
Rajiv
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