This may be hard to answer since you've been in the business 30+ years. No matter how many times I start reading about options, I seem to have a mental block about the meaning of put and call. One's a right to buy, the other's a right to sell. Do you know of any mnemonics that I could employ to remember which is which?
Perhaps this will work for you:
- When you CALL stock, it's like your dog and it comes running
to you (your account and thus, you buy it).
- When you PUT stock, you put (or place) it where you want it
to go - and that someplace is out of your account and into someone
Mark D. Wolfinger
The Rookie's Guide to Options:
The Beginner's Handbook of Trading Equity Options