Since you think you might want to buy 'naked' calls, I would say don't. Before getting into options, you should get a good understanding about them. Clearly, you don't. A naked call is one that is SOLD by someone who does not own the stock, hence it is naked, not covered by shares owned. The call is just a call to the purchaser. Seriously, get a book on options read it carefully, then try paper trading for a while. The options game is full of surprises, all bad for the buyers, or at least so it seems. Regards, AZ
My mistake, I didn't mean naked calls. I was considering selling some of my existing shares and buying the $5.00 - 2005 calls. I could increase my shares 3 to 1. Example sell 1000 @ $5.00 = $5000 / $1.50 = 3333 shares.