Hey guys....just wondering if someone can help me out in better understanding how closing my position in options work. Recently bought 1M CADo and first time in options. I know I have 3 alternatives: exercise, let them expire or selling them.
My worry is: if I decide to sell the options, does that make me the writer? Will I be liable to whoever is gonna buy my option as the options will be exercised against me? Or once I sell them my position will be definitely close with no liabilities?
One other thing....ASX states one option contract corresponds to 100 shares. Does that mean 1M CADo correspond to 100M shares? Doesn't make much sense
