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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Herm who wrote (11526)	9/16/1999 9:24:00 AM
From: Greg Higgins	Read Replies (1) \| Respond to of 14162

2) You use the terms "long" and "short" a lot. I take "long" to mean when you own the stock at less than the current selling price (have a profit) and "short" as the opposite. I, and everyone else, am long when I own the issue in question whether it be stocks, bonds, or options (puts or calls). I, and everyone else, am short when I sell the issue without already owning it. Buy -> LONG -> Sell -> NEUTRAL. Sell -> SHORT -> Buy -> NEUTRAL. Whenever you sell a position, you either create an obligation for yourself or you don't. If you don't, you're NEUTRAL. If you do, you're SHORT.