### Comment:
He has 20 contracts, each of which is for 100 shares.  His payout will be 2000 (shares) x value &gt; the call price ($30).  If he sells the options at $36 he gets 2000 x $6 = $12,000.00.   
  
 That’s a lot of tendies.

### REPLY:
So do you have to have the money to buy out the shares or only the 120 from the contract?

### END.