Fully Paid Lending Program from Fidelity

[Anonymous]

I have some stock at Fidelity where the cost basis is a few thousand bucks and it is now worth about $1M. I want to monetize it but covered calls are too risky as I don't want to accidentally sell it and have to pay huge capital gains so am considering the lending program. I realize that I will not have ownership of the stock during the time it is lent out (and will get a payment from fidelity in lieu of dividends which I'm fine with). However there is no mention of the following:
- I know I can sell the stock whenever I want and the lending agreement will get cancelled but can I sell options on it while it is being lent out? (There are other stock that I don't mind selling options on which i could also lend)
- Will the stock be part of my account margin? (I sell SPX options using my account margin and am wondering if lending stock will reduce available margin)
- Will the stock get sold by the borrower and force me to pay capital gains tax? (I know that Fidelity will be lending the stock to short sellers and make money but is there anything in that process that will result in my stock being sold and cause me to recognize capital gain?)

[Anonymous]

Thread title should read "Fully Paid Stock Lending Program from Fidelity"