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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: Aries who wrote (1412)3/20/1997 10:18:00 PM
From: Jeff D. Krueger   of 14162
 
I have a PBS account and a Waterhouse Web Broker account. PBS has a good web site and trading stocks is good. To trade options you must call in and their brokers seem to have had too much coffee that morning. They seem to want to get your option trade so quickly that they often screw it up and a follow up call is a must to see if the previous broker got it right.

My Waterhouse Web Broker account is better. Stock trades are $12.00 (up to 5000 shares) and options also can be traded online. The biggest plus is that they have offices all over the place. The have 2 near where I live and the people are great. They are never too busy and they give personalized service. They do charge more than PBS on options but they have not yet screwed up a trade. Having an office near my house is a big plus. If I do not have any buying power and I want to buy an option where cash is needed in my account before buying - I am out of luck with PBS. I have to mail a check and hope it doesn't get lost or wire the money and they will have it the next day. With Waterhouse I go to my bank and get a certified check and drive it to the Waterhouse branch. And I can buy whatever I want.

You might want to check the charges on options. I thought it was $1.75 per contract under $1.00 and $2.25 per contract over $1.00. They could have changed it since I have not traded on it for about a month. My Web Broker accounts are the one that I use the most.

Jeff
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