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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: Mark Mandel who wrote (6083)12/10/1997 11:29:00 PM
From: drsvelte  Read Replies (1) | Respond to of 14162
 
------------------------Off-Topic-------------------------------------

Tri-Guy:

See you are a tri-geek. Me sorta too, but have gone beyond (maybe below!) the "no pain no gain" mantra. I'm in a three year consolidation period, having been torched by too much (14 workouts/week more than I can maintain). Do 'em for fun and recreation, not competitive any more. Still love the sport, good luck to you.

drsvelte



To: Mark Mandel who wrote (6083)12/11/1997 8:04:00 AM
From: Herm  Read Replies (1) | Respond to of 14162
 
Hi Tri-Guy,

An options contract is equal to 100 shares of stock. So, $1,000 shares/100 = 10 contracts that could be offered.

Only 100 share lots or units are normally used EXCEPT when there is a split readjustment. Say, a 2-1 split announcement would convert the options Calls to 200 shares of stock at half the price of the original strike price. So, the Dec. 20 would become 200 share @ $10 strike price because of the split adjustment.