Help a noob...

I have been getting started with options & I want to make sure I do not bite off more than I can chew...

So I got an account on Optionshouse & funded it with a hundred bucks (I know, bigtime... Jump back, Ben Franklin in the house, but I am just getting my feet wet).

So I bought two calls at $.29 a $2 strike for Nov 16... So I paid $70 +/- (I think... I am still deciphering the interface).

I now have 2 calls & a lot of questions...

1. It was my understanding that I could only lose the $70 no matter what. That is the limit of my exposure. However, when I click sell and then "Analyze in tradeLAB" it says: Sell 2 GERN @ .15 Max profit = $30, Max Loss = INFINITE and Break Even $2.15

Now, it is the Infinite loss that concerns me, but considering it is a 0.0% chance, am I correct in thinking that still, the max I can lose is the amount I put in (plus expenses, fees, etc...)

1. if I put in a sell order, there is a bid and an ask... What I am selling it for? I presume the limit price. Is this correct?

Thanks in advance...

Submitted October 24, 2016 at 04:07PM by irritatedrhino http://ift.tt/2f9RPkT