Options Message Board - Msg: 12387093

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Strategies & Market Trends : Options

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To: voop who wrote (76)	12/27/1999 8:47:00 AM
From: Poet	Read Replies (1) of 8096

Hi voop, Your question about protecting gains is at the top of my list and, other than the strategies Jill has listed, I'm fresh outta ideas. I'll try to pull in someone who has more experience to give all some ideas. On brokers and the various options levels necessary for writing naked puts, I've just upgraded to level 4 at Waterhouse. You'll need to call your broker and have them send you another options application, filling out how often you trade options and "upping" the level of risk you're willing to take. This process looks pretty pro forma to me. By the way, if you haven't subsribed to Option Investor ($40/mo.) it's a very good newsletter. They suggest that frequent options traders consider a brokerage called Preferred Trade, which specializes in options. I've looked at it closely and will move my options trading there in a few weeks, as they route orders to the exchange with the best price and (a great boon to those like me who are mathematically-challenged) take limit orders based on the STOCK price. Something to keep in mind, anyway.

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