How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Herm who wrote (11713)	10/22/1999 12:16:00 PM
From: RDHickman	Read Replies (2) of 14162

Herm, re: Brokers Since you are thinking of making a change, I thought the following excerpt from our friend on Raging Bull might be worth your consideration. XXXXXXXX the reason that Preferred has you leg into the spread is that all option orders with premiums up to $10 are executed through the exchange's computer systems and a for a spread to be executed as an atomic unit - a broker must be involved. But executions through Preferred are so much faster than a browser broker, that when I do spreads I just fire off the first leg and 5-10 seconds later when I get confirmation of execution I fire off the second leg. Takes a little longer if the premiums are above $10, but still 10 times faster than a browser broker would execute. If you're doing a spread at market (rather then with a credit or debit limit), you just fire off both legs simultaneously. XXXXXXXXX Thought the browser vs non-browser thing might spark your interest. As you know I am with Mr. Stock, and have no complaints even tho I have to call-in LEAPS and Spreads. Best to you! /Dick

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