The reason for all the phone calls was that I couldn't seem to get the computer to buy them for me. It kept saying error that the price exceeded the fair value of zero. Turns out that I am the first MyTrack customer to actually step up to the plate. The total commission was $25 for the trade.
Reading the Options Clearing Corp brochure has helped a lot in putting my mind at ease. Looks like I am going to have to teach the rules to my broker though. (g)
It would appear that there is no underlying security to buy here. It is an all cash transaction. The seller just shorted the position to me. Like all shorts, he is the one that is taking the big risk. All I risked was the $6200 premium. He stands to lose $70K+ if Zeev is right.
I believe Zeev would call that a dodecabagger. (g)
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