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Technology Stocks : America On-Line: will it survive ...?
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To: Michael Strope who wrote (3047)5/8/1997 1:58:00 PM
From: Walter High   of 13594
 
Michael:
It is not unusual for a broker to ease you into trading options if they do not know you. They want, of course, to be sure that you know what you are doing.

I started out with a cash account, then moved to a margin account and bought on margin, then asked for covered option capability and did some of that, then asked for full authorization. They gave it to me after seeing that I worked my way through the other levels.

Brokers are different, so I can't speak for what brokers other than mine might do. It also depends on your level of assets. They don't want you spending your mortgage money on naked options.

Walter High
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