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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (34537)10/25/1998 2:47:00 PM
From: miklosh  Read Replies (1) of 132070
 
<If the stock goes into the money, you can unwind early for a much superior return.>By "unwind early" does this mean that:

A) as the seller of the call, I have the right at any time,if the stock goes in the money before expiration, to sell my shares of the stock and thus cancel my obligation as a call writer

B) I can buy back the call for a profit and terminate my obligation as a seller that way (and keep my crappy shares<g>)

C) A or B. The choice is mine.

Thanks Mike
miklosh

ps
I've spent some time at various options web sites , and have been reading a book about options ( options for the stock investor by James Bittmman) and many of the basic questions that I've been asking on this thread are not covered in the book. I've found lots of good information, but not much in the way of describing how trades actually unfold. So asking real world questions to qualified folks is the best way I know how to educate myself. So thanks again Mike, Z and all. I really appreciate your help.
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