Shorting stocks: Mechanical aspects Message Board

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Strategies & Market Trends : Shorting stocks: Mechanical aspects

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To: Anaxagoras who wrote (97)	8/12/1998 11:26:00 PM
From: chester lee	Read Replies (1) of 172

Anax, It's more like Ken GAVE the nake calls away (since he didn't get any money for them). BTW, I may give up writing covered calls and puts. The last few experiences have been negative. Last month my CPQ 27-1/2 got "assigned" even thought the stock closed on expiry at 27-7/16 x 27-1/2. Who the heck would want to call those?? CPQ rallys to $34+ within a week thereafter. Go figure. ZONA covered puts "may" bite me. Shorted at 18 and watched it run to $40 without pannicing (too much). On the down trend when the stock was at 22-1/2, I sold the Aug 20's for 15/16. A few days later, ZONA drops to a low of $16. If I get putted to, I'm going to have to change my profile and eliminate covered options. chester

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