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Strategies & Market Trends : Daytrading OEX options with a method, not a trading system -- Ignore unavailable to you. Want to Upgrade?

To: sammy levy who wrote (50)	8/2/1999 10:35:00 PM
From: John F. Summa	Read Replies (1) \| Respond to of 62

Hi Sammy, I am not sure I understand what you are trying to do, but let me offer some ideas. You can buy 4 jan10 calls above the strike of the calls you sold, which creates a spread (thus you are not naked) and then you can sell the stock. Or you can buy back the short (covered calls) at which point your broker should let you sell the stock. Not knowing any specifics that is about all I can say. John Summa OptionsNerd.com

To: sammy levy who wrote (50)	8/11/1999 11:10:00 PM
From: maintenance	Respond to of 62

Writing covered calls is identical to selling puts. The one difference is you pay no commissions to buy or sell the stock. Covered calls is an inferior strategy. Plot the profit/loss v. stock price, they're the same. There are margin requirements to sell puts though. If you sold covered jan 10 calls, that's an opening position. If you then sell 10 jan calls of the same strike, that's a closing position. Opening is a new position, closing is closing the previously open position, that is you no longer have a position. Cheers