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OIC Introduces "Practical Uses Of Covered Calls" Seminar

Chicago—October 10, 2002

The Options Industry Council (OIC) announced today the launch of its inaugural strategy specific live seminar, "Practical Uses of Covered Calls." The seminar will debut in three cities and will cost $49 for the two and a half-hour event.

"Practical Uses of Covered Calls" will be held in the following cities from 6 - 8:30 p.m.:

  • Philadelphia - October 30 at the Doubletree Hotel
  • Pittsburgh - November 13 at the Pittsburgh Marriott City Center
  • New York City - November 14 at the Grand Hyatt

"One of the most popular requests that we get from our investors is for more information on covered calls, and that's exactly why we're offering a seminar devoted to the topic," said Paul Stevens, OIC. "Investors who use covered call strategy combine the flexibility of listed options with stock ownership."

A covered call strategy is a call option sold or "written" against an equivalent amount of stock that an investor owns or "long stock." Generally, one call option is sold for every 100 shares of stock. The writer receives cash for selling the call, but will be obligated to sell the stock at the strike price of the call if the call is assigned to his account. In other words, an investor is "paid" to agree to sell his holdings at a certain level (the strike price). In exchange for being paid, the investor gives up any increase in the stock above the strike price.

The seminar will teach attendees both the positive aspects and the risks associated with covered calls through the following topics:

  • Reviewing options basics
  • Calculating returns and what stocks to look for
  • Using the covered call strategy
  • Creating a disciplined approach to implementing the covered call strategy
  • Managing positions once they are established

To register, either call 1-888-OPTIONS or register online at OIC's Web site.

About OIC

OIC is a non-profit association funded by the American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. In 2002, OIC is celebrating its 10-year anniversary of providing investors and brokers options education. OIC's resources include: The Options Industry Services call center at 1-888-OPTIONS, an educational Web site at OIC's Website, evening seminars throughout the continental United States and Canada, instructional videos and educational literature and software.

Editors note: Reporters are welcome to attend the seminar to learn more about equity options and the Covered Call strategy. To make arrangements, please contact Debbie Baratz at either 312-322-6267 or dbaratz@theocc.com.

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