Using the probability calculator

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Zeroing in on strike price and expiration

John has selected a stock for the covered call, but he needs to consider price and time in selecting the right call that will be consistent with his forecast. This 2 part forecast for the underlying stock considers the size and direction of the stock price change and the amount of time that the forecast move will take.

Fidelity's Probability Calculator may help determine the likelihood of an underlying index or equity trading above, below, or between certain price targets on a specified date. Watch this video to learn how to use the calculator and view information that may be used to refine your stock or option strategy.

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