#CoveredCalls – Long stock covered this week at 54 and 55 strikes. With the PayPal buyout rumor (possibly as high as 70 per share) I’m wondering…
Can I roll my short calls out to something like Jan 2024 70 strike to take advantage of the buyout?
What happens to out of the money short calls when the buyout happens?
Do I get hit for buying them back for whatever they’re worth on the last day of trading?
Do they just go away and then the stock gets bought?
I’m willing to hold the stock a lot longer if it means another 10-15 points of upside. Any ideas?