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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: Herm who wrote (8672)	9/22/1998 11:55:00 PM
From: Joseph F. Hubel	Read Replies (1) \| Respond to of 14162

Herm & Others, I have been investing and doing options for 30 years. Since it is never to late to learn, I follow a lot of lists and threads on investing. I have a question I hope someone can answer. I think I know the answer but hope I'm wrong. I recently bought some QWST at 31 7/16 and was immediately drawn to the Dec 40 calls (.LCZLH) which I immediately sold at 5 1/8. All things considered this looked like a win deal. But here is my problem: When I got the call confirmation there was a notation that read as follows: Call: LCI INT/QWEST MERGER DEC @40 "Each contract represents 116 QWST common shares & cash in lieu of .61 fraction QWST shares." If I read this correctly, instead of 1 contract being for the normal 100 shares this would seem to obligate me to deliver 116 shares should the stock go above 40 and be called away from me. I have never seen this before. The LCZs were the only DEC calls listed for QWST. Any insight would be appreciated, Thanks, JFH