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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Joe Baca who wrote (1153)	3/11/1998 11:57:00 AM
From: Bald Eagle	Respond to of 5944

I sold Mar 25 covered calls. This means I own the stock and I sold someone the right to buy my shares at the price of 25 at any time between when I sold the call and option expiration day, which is always the third Saturday of the month. So, effectively, this means the third Friday, since the markets are closed on Saturday. It's a way to generate cash from your holdings, but of course you risk losing your shares at the strike price i.e. in my case 25. Check cboe.com for option prices. Also, check with your broker to see if you can trade in options on your account. You may have to apply to do it.