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Strategies & Market Trends : Canadian Options -- Ignore unavailable to you. Want to Upgrade?

To: Benjamin Ng who wrote (1553)	9/19/2000 9:41:34 PM
From: Porter Davis	Read Replies (1) \| Respond to of 1598

>>When I go to sell, do I do the converse, and select a "closing" order? Yes. If you do not specify 'closing', you will have two open positions: long (x) and short (x). You may think you're flat, but the clearing corporation doesn't view it that way. At expiry you may be called on your short. An alert broker would probably save you by exercising your long, but if it's near the strike there's no guarantee of that, plus you'll pay a raft of needless commissions. It's not really complicated once you understand the reasons behind it. Hope this helps. Happy trading. Porter