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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (34527)10/25/1998 1:59:00 PM
From: miklosh  Read Replies (1) of 132070
 
Hi Mike.Hi Z. An option question for a change.<g>
I recently bought coms @30. I'm considering writing nov35 calls. If I get called no problem, I've made a quick 20%. If the calls expire worthless, no problem, I like the co right now, so my cost goes down a bit. My question is this: I sell the Nov35's on Nov 1, and 1 week later coms is trading in the 37-40 range and stays in that range for a week, until a market event or bad news causes coms to tumble and subsequently trade under 35 until expiration. What will the likely outcome be(assuming there are no stock dividend or shareholder voting issues in the interim). Is there a possibility that I wouldhave gotten called in the first week in Nov or would I have kept the premium and the shares.IOW if short out of the money calls become in the money(even deep in the money) before expiration but ultimatly trade out of the money at expiration, what if any chance is there that the seller will have gotten called? TIA

miklosh
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