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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: robwin who wrote (12793)5/24/2000 10:25:00 PM
From: Casaubon  Read Replies (1) | Respond to of 14162
 
you can't sell short at a higher price than current market prices. It is the same as going long. You sell the stock at whatever price the buyer is willing to pay. Short selling is simply reversing the "usual" order of the price. First you sell the stock ("going short") than you buy it back later, preferably at a lower price to lock in a gain equal to the difference of the sale and purchase price (just like buying the stock low first, then selling the stock higher later).

PS I don't get shorting against the box, except in very limited situations where the stock is very close to being long term capital gains but you want to sell right away.



To: robwin who wrote (12793)5/25/2000 8:39:00 AM
From: Herm  Read Replies (1) | Respond to of 14162
 
You have to sell that stock short on the open market. You are too late to sell at your $85 target. The only restriction is that selling short requires an up tick on the price. So, if you are trying to get that higher price of say $85, someone in that trading would have to trigger an up tick before your sale would be absorbed. This is done to avoid massive program selling to cause a collapse in the market price meltdown like we saw in 1987.


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