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For every penny above the $76 level the stock trades whatever is lost in the $75 call option you sold is offset coming from the gain within $76 call option acquired.
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Another benefit is your risk's clearly defined. This means you can't lose close to you expend. No matter what happens with stock exchange trading or that one option - you can never, ever lose more than you use.
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Options a few great advantages over regular stock trading. For example, options trading provides greater profit potential with lower capital requirements.