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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (1668)	7/30/2001 10:54:13 AM
From: BDR	Respond to of 5205

<<I think you can get a good idea from comparing the "delta" of the near term calls to that of the long LEAPS. >> Speaking of "Greeks" (delta, theta, et al.) I was going to ask what source you used for those numbers? I have this link: finance.lycos.com which provides the numbers if you select the right button before asking for quotes. Is delta (change in the option price for each unit of change in the equity) reported in a standard fashion and can I rely on a site like the PHLX to have current numbers?

To: Dan Duchardt who wrote (1668)	7/30/2001 2:25:35 PM
From: RP Svoboda	Read Replies (1) \| Respond to of 5205

Thank you all for the responses. Based upon the replies and a call to my brokerage I now know that I need to cover my short position if it moves against me and I think it will be ITM at expiration. I was told that they would first use whatever stock I have long to cover, then I would be short for the remainder. NOT a position I want to be in because of tax implications. I put in an order to sell the Aug 70s which should fill if Q drifts up to about 67 in the next two days. If not I will have to take the market since I am packing up and moving and will not be able to watch closely for the next week or so. Boda