Ok team, I've been trading stocks for awhile and have been looking to get into options trading. I've visted the learning center several times and listened to the MP3 over and over, thought I understood...basically. So I made my first options trade (buy) today, I brought a covered call. The stock was not an anylitical pick, I just picked one...PARL trading at $5.08. I did a "sell to buy"? ok. strike price $5.00. The stock leg showed an increase, the option led is showing -80.00...what the heck does that mean? BTW I figured the best way to really learn this is to jump in. Help!!
AskOpen$0.550 Expiration Date9/20/08 (66 days)Previous Close$0.550Open Interest66Day High$0.800Intrinsic Value$0.290Day Low$0.550Time Value$0.510