Jan 26, 2021
10:18:13pm
10:18:13pm
Yes. You are agreeing to purchase the stock on the 29th for $9/share. If you
don’t have enough money to purchase the 100 shares, your broker will take them sell the 100 shares at market value and you receive that money. Also, if the stock doesn’t close on the 29th above $9, then the option expires worthless and no action is taken. You lose the cost of the premium for the option in that scenario.
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So if I were to buy a $9 call expiring January 29, and the price rises above that, I get the option 100 shares for $900
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1/26/21 10:21pm