I have 10 OLN Jan 21 $12.50 calls that I’m selling for $9 because I need to shift a few dollars around.
If no one wants them at that price then I’ll just exercise and sell the shares when I’m ready.
If you are looking at investing in OLN then this is an inexpensive way to build a position at less than half the current price. The downside is you can’t collect dividends unless you exercise the shares. The plus side is you can exercise the shares at any time; if you decide to do that then I recommend a few days before the next ex dividend date that way you get to receive the dividend.
FYI, the contracts are out there but they aren’t showing up on level 2 because it is an all or nothing sale… There’s always someone who wants one contract but very few options buyers who buy less than 10 so I’m keeping the set together. Of course, the buyer can do whatever he/she wants.
LOL, I didn't have a GTC on my order so it went away over the weekend, but someone else decided to sell theirs at $9 and it went through. Mine are now back out there and available to anyone who wants them but I now have the cash to exercise them so if someone doesn't want them then I'll go back to plan B.