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

To: Uncle Frank who wrote (3276)1/17/2002 2:45:56 PM
From: Dominick  Respond to of 5205
 
Does that mean you need to exercise your long LEAPS to get the stock to surrender?

If your short call is going to be exercised, I believe you either have to go in the market and buy the stock and keep the leap. Or, sell the leap and buy the stock for the call out.

Having said that, it's possible your broker will automatically go in the market to cover the call which leaves you short the shares. You have to check their policy.

Dominick


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