Zion Oil & Gas Inc (ZNOG)

[Moses1492]

Bear you are incorrect regarding selling calls. Sept call volume yesterday was 80 "contracts"- that is 8000 shares @5 cents as 1 contract is 100 shares = so profit of $400 at 5 cents each.

IF THE PRICE OF ZN goes over 1.00 at the time of expiration YOU GET TO KEEP THE PROFIT ALL THE WAY UP TO $1.00 - at today's price ZN cost basis at 20 cents that would be 80 cents plus your initial 5 cents earned from selling the call (85 cents total profit Bear). The only potential loss you may incur is the gain OVER 1.00 at time of expiration.

BUT BUT BUT !!! YOU DO NOT HAVE TO BUY BACK YOUR COVERED CALLS should the pps make it to $1.00 - just let them ride out and the conversion will be done automatically by your brokerage firm. I'll gladly take a 850% win on selling covered Sept calls. Heck I even got 10 contracts filled at $10 cents on the spike of the day lol! (Bear that would be $100 again as 10 contrats = 1000 shares)

Read up on it Bear.