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To: isdsms who wrote (28239)6/25/1998 10:35:00 PM
From: Dr. Id  Respond to of 97611
 
Excuse my ignorance but isn't a leap a covered call with an expiry further off in the future than the
current series?

Ira

No, a LEAP is a long term option. If you hold the stock and sell LEAPS, then it is a covered call. A covered call is when you own the stock and sell someone else an option to buy the stock from you at a particular strike price on a particular date.

JB



To: isdsms who wrote (28239)6/26/1998 1:37:00 AM
From: RavBruce  Read Replies (1) | Respond to of 97611
 
Yes.
My only point is that if you use a Leap with a price
far enough away, you have less of a chance to get it
called away when you do not want to lose the underlying
stock.
Bruce


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