I’ve been trying to find a clear answer to this question and am struggling to do so. I understand that Joe Bradford has the opinion that covered calls are halal, but can I buy and sell an option contract for shares that I own? Do I need to even own the shares to buy and sell an options contract?
For example, I currently have around 3000 shares of a company and have matched it with 30 contracts to sell at a later time. Is that halal because I own the underlying shares?