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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: Johndee who wrote (9449)1/14/1999 6:58:00 PM
From: VincentTH  Read Replies (1) | Respond to of 14162
 
JohnDee,

Don't tell me you sold the DXGxx options (versus the regular FLC options). They are the old CDG options that are worth 170 FLC shares, and the strike price adjusted to 12.5/1.7 = 7.35 strike price. You must make sure that you are not going naked on those options or you will be in for a big surprise come expiration time.
(I mean you have to make sure that if you sold 2 options, that you have 340 shares of FLC instead of the regular 200 shares).
Check with your broker.
I have mentioned this in an earlier post that you missed.

//V



To: Johndee who wrote (9449)1/14/1999 7:14:00 PM
From: Herm  Read Replies (1) | Respond to of 14162
 
Rock n Roll Time!

Not too much downside on FLC at these levels! 2 points should protect
your position. You could roll out later and pick another strike price
say $7 1/2 a few months out or $10 to generate more premies.
FLC

iqc.com