CrazyRichAggie said:

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WTI looking to make another run today.

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La Bamba said:

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I do wonder if the second "stimulus" is actually that infrastructure bill sprinkled with more covid relief help.

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gougler08 said:

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Touchless said:

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McInnis 03 said:

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Touchless said:

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Can someone help me understand how to issue covered calls? I haven't done it before and I want to make sure I enter one correctly if I ever do it. Below is a screenshot of one I could do for LEN.

Obviously select Covered Call and then I assume I select Sell since I own the shares already. I can do 100 or 200 shares since I own 217 which defaults to 1 or 2 contracts. I do Buy to Open?? And then enter whatever date and strike price I want. I would then receive the premium listed in the box I'm guessing, but there is also an "estimated amount" below that is throwing me off. That calcs out to me selling all 200 shares for the current share price (which I obviously don't want to do) instead of the strike price so this is why I think I'm doing something wrong here.

Any advice would be greatly appreciated. TIA.

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If you already own 100 shares of something, just do a single order "Sell to open" a contract on the underlying. TDA's "covered call" is confusing if you haven't done it before.

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Another quick question on this. If I sell to open a call option, in the event it is exercised at some point, is my account automatically debited those shares or what happens exactly on my end to fulfill that obligation? I submitted 2 sell to open call options for IOVA and I hope they expire worthless if someone picks them up, but want to know what to expect in case it's called out.

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On fidelity, if you are called out or the stock price is above your strike price at the final day of the period, then it automatically sells the stocks to cover your obligation (normally actually executes on Saturday for whatever reason)

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Touchless said:

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gougler08 said:

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Touchless said:

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McInnis 03 said:

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Touchless said:

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Can someone help me understand how to issue covered calls? I haven't done it before and I want to make sure I enter one correctly if I ever do it. Below is a screenshot of one I could do for LEN.

Obviously select Covered Call and then I assume I select Sell since I own the shares already. I can do 100 or 200 shares since I own 217 which defaults to 1 or 2 contracts. I do Buy to Open?? And then enter whatever date and strike price I want. I would then receive the premium listed in the box I'm guessing, but there is also an "estimated amount" below that is throwing me off. That calcs out to me selling all 200 shares for the current share price (which I obviously don't want to do) instead of the strike price so this is why I think I'm doing something wrong here.

Any advice would be greatly appreciated. TIA.

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If you already own 100 shares of something, just do a single order "Sell to open" a contract on the underlying. TDA's "covered call" is confusing if you haven't done it before.

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Another quick question on this. If I sell to open a call option, in the event it is exercised at some point, is my account automatically debited those shares or what happens exactly on my end to fulfill that obligation? I submitted 2 sell to open call options for IOVA and I hope they expire worthless if someone picks them up, but want to know what to expect in case it's called out.

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On fidelity, if you are called out or the stock price is above your strike price at the final day of the period, then it automatically sells the stocks to cover your obligation (normally actually executes on Saturday for whatever reason)

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Interesting. Thanks. They really force you to sell the stock if the stock price is above the strike price? I would think they'd only do that if the option you issue is called out. I'm on TDA, so not sure if it's the same or not.

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La Bamba said:

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CrazyRichAggie said:

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WTI looking to make another run today.

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I think USO, OXY and APA might have some swings today. Careful out there.

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Boat Shoes said:

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Loading up on WYNN at $50?

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Boat Shoes said:

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Loading up on WYNN at $50?

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tam2002 said:

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Boat Shoes said:

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Loading up on WYNN at $50?

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I have a bunch now and have a order set at 48 to fill. I feel better about Wynn than any other Vegas property

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khaos288 said:

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IrishTxAggie said:

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Though I agree with him, Kudlow needs to STFU

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Idk why but this post cracked me up. "He's right but eff him."

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oldarmy1 said:

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ONTX volume. Loaded up

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tam2002 said:

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Are we buying LADR when it gets in the 2s?

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shiphunt said:

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Anybody got any ideas for a cheap hail Mary gamble going into the weekend?

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NRD09 said:

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BREwmaster said:

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AnyOtherName said:

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What the flip is LK doing the last 30 minutes today? Why is $14-15 a number everyone is throwing around even on twitter?

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it is still being shorted, so chill. Grab a beer, stay a while. It will rebound today, but I bet it starts tomorrow if not Monday.

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I'm in for one 4/9 15c at $30. let's do this

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