>>why aren't there LEAPS available for BCE and NT?
Good question. We have been approached many times by the Exchange wanting us to list LEAPS on BCE, but given the then-prevalent high dividend yield, low volatility atmosphere, we had no interest. Also, truth to tell, the 'regular' BCE options weren't trading like a house afire, either. Maybe now might be a good time to revisit this question, although we are constrained by the MOU between the participating exchanges from listing any new products before the reorganisation takes place. To my non-laywer's mind this seems yet another example of dubious, if not illegal actions taken by the previous management of the TSE. Or maybe restraint-of-trade has a different definition in Canada, just as the libel laws do, which I
discovered at great personal expense and turmoil.
I was very heartened to see several messages on the board this morning. Let's get it going again. I'm afraid I can't add anything to the client margin requirements discussion. Hell, my discount broker (whom I largely entrust only to hold my RSP, since they have proven largely incompetent in anything more complicated) doesn't even allow uncovered call writing. I will say that it takes a strong stomach to sell straddles/strangles. I don't even do it (intentionally) in my pro account. I always strive for the 'warm tummy' feeling. If my stomach starts to feel a little sour, I know it's time to take off some positions.
Weird action yesterday in both BCE and BLD. Strong recoveries after early plunges. Truly awe-inspiring moves. Great trading opportunities.
A lot of it was probably month-end mark-up. I hope everyone's had a few good cuts at these offerings.
Maybe I'll have time tomorrow to talk a little about the "Nantucket sleighride" and the research I did into it.
Happy trading.
Porter
E&OE |
