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Aug Calls at 0.25 asked WLP IM-E
Started Aug 11 at 10:47 ET (By DowJonesDave)
Just recomended this to a freind who likes to trade and talk stocks.
This post is more than 60 days old. Replying to it might be confusing for other members reading the discussion.
By all means, keep the ball rolling and post a new opinion.
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DowJonesDave
Aug 11 at 10:48 ET
Strike 60
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DowJonesDave
Aug 11 at 10:52 ET
Ops sorry copied the wrong one in! Sorry!
AUG 60 Wellpoint Calls WLP HL-E is the correct symbol asked @ 0.10 on open
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ramigabai
Aug 11 at 11:30 ET
so what's the symbol you refering to?
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DowJonesDave
Aug 11 at 11:45 ET
WLP HL-E
that's:
WLP = Wellpoint
HL = Calls Aug 60
E = Boston Exchange
My buddy uses a full service broker (My freinds are rich) and that's the best I can give you. It's been ten years since I traded options, and sometimes different brokers use different option suffixes.
Sooo. Find a good option site (google "free option quotes") and look for the link to "option chains" which will give you a view of all options available.
The information above is all you need if you know how to trade options.
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DowJonesDave
Aug 11 at 11:52 ET
PS: I don't trade options. I buy and sell stock. My buddy asked me about options and we had a long duscussion and we happened to look at options and I explained how they work and he asked me to check the options fow WLP for the possibility of selling covered calls and I think the stock is goin to 65 (not from my watchlist..from my buddy asking me about it his wife's in a tizzy cause she owns it and it got hammered) so I said "screw covered calls why bother just buy calls and puts to cushion your position". That led to a discussion of how much money can be made on a good out of the money option hit and I hope I didn't vreate a monster and that's how I ended up posting the opinion..It's because I advised the position to a real client, so I documented it here for posterity's sake, complete with moronic early morning typos, etc.
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DowJonesDave
Aug 11 at 11:57 ET
The point being that: The symbol is WLP.HL with the boston exchange contract at the best asked price. Been a long time since I traded options that should be the ticker symbol. WLP 60 Aug Calls is all you need learn the month and strike codes following the symbol. There's a guide I'm sure free online or you can get one from your broker.
WLP = Wellpoint
HL = Aug 60 Call
E = Exchange (boston)
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DowJonesDave
Aug 11 at 12:01 ET
My buddy just calls his broker. I think he's going to he wrote it all down! Been trying to get his millions under management for years!
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DowJonesDave
Aug 11 at 12:04 ET
PSS: I have a small amount of money under management from client but it's in a fund for stocks.