I just purchased (calls) 5 contracts of AFFY expiring OCT 19th 2013, with the strike price of 2.00. (It's a BUY TO OPEN order). What does this mean? I know I am a newbie but the real experience comes from this place. let me know what does this mean?
I think if i have to close my call, I guess i need to use "sell to close" option. does this mean buying all the shares or how should I buy them or does this close the contract with the price I purchased for?