Scorpio Bulkers Inc (SALT)

[MisterEC]

Sure, I bought 300 SALT @ 2.775 on 6/30/2016

I watched in pop up on 7/1/2016 and Sold 3 SALT Dec 16 2016 5.0 Call @ 0.25 (168 days to expiration) for $62.66. This was protection money for me and I did not know SALT would rise for sure.

That call option gave to one who bought the option, that I sold the right to 'call away' my stock from me at $5.00 at anytime up until Dec 16, 2016.

The stock has been up above $5 and made it worth the effort to take my stock. Now it is below $5 no one will pay me that much. If I buy the option back, for less then I sold it for, I make the difference. And get to keep the stock, no matter what the price does.

If the option expires 'out of the money' I pocket the entire amount I sold it for.

Simple Options Trading

One place I googled, there are many more sites, with better write ups than I did.

I see after hours the price rose above 5.00 again, mmmm.