The ZAGG trade ends tomorrow. At least the March 2011 $10.00 call will expire worthless tomorrow. Sell The Call will then have the shares outright.
Sell The Call will simply hold onto the shares instead of immediately selling the April or May $10.00 call. This is because the shares are not far from the stop loss price that Sell The Call has set for the shares. The cost in commissions in selling the April call would create a greater loss if the shares were to fall to the stop loss price.
If the shares fall to the stop loss, Sell The Call will simply incur a commissions for the shares. If the shares rise in price, so should the call. Sell The Call will then act and sell the appropriate call creating a covered call trade.
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- This information is not to be used as a recommendation to buy or sell. It is simply information and opinions. Before investing, please consult a financial professional. This blog takes no responsibility for any losses or gains that occur from trades using its material.
- The account does not fully divulge all information (the size of shares bought and calls sold) on open trades. This is for protection of the trade. When the trade on a particular stock ends, the account will give the size information out. Please feel free to ask questions and the account will answer them the best way possible can without endangering the trade. THE ACCOUNT WILL NOT MISLEAD READERS TO CREATE A GAIN ON ITS TRADES!
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