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: FlyersFan who wrote (8055)	8/3/1998 5:03:00 PM
From: Joseph Francis Torti	Read Replies (3) of 14162

HI Can anybody help me. I have 200 shares long of HD at 43 3/8 and 100 shares long HD at 41 1/8. I want to sell 3 contracts HD Aug 40 call paying 2 1/4 points premium. Stock close at 40 5/8 bid. What would happen if I did that tomorrow morning? Would my long get called right away? I want to get out of the stock market fast. It's not for me. I am losing about $550.00 on the long so the 2 1/4 premium would give me 675.00 and get my loses back fast. Am I reading this right? And if the stock open at 40 5/8 does it get called at the market price or does it get called at $40.00 even though market price is 40 5/8 ? Thanks

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