options trading

if i buy a call option for july 16th and i sell a call option 10 points above for june 16th am i covered with call i bought?

 

You will make money between the strikes and lose money above the high strike.

 

What you've done is a diagonal spread. I'm not sure what you mean by "covered".

 

I think he means for margin/short purposes. Your broker will see the longer term option as covering the june for the purposes of not being naked but will not be exactly the same as a bull call spread.

 

El OchoCinco is correct.. kinda like a call vertical and yes.. covered for marign purposes.

 

thanks