Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 233.54

-1.8%

Nov 7 9:30 AM EST

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To: Cirruslvr who wrote (8736)	9/18/2000 11:24:04 AM
From: TimF	Read Replies (1) of 275872

I bought back the short portion of my bull spread, 2 AMD Jan 03 60 calls for 6 7/8. I would have left them alone and bought shorter term closer to the money or in the money calls (maybe 1 '02 20), except that my broker was counting the short calls too much against my margin. I talked to the margin department at my broker and while they accepted that the short '03 60s where covered by the long '03 25s (the position was bought as a spread), they said that it was possible that I could sell the long calls and it was there policy to count the short calls against margin limits. I was told that I would not actually get a call unless the call listed on the website was over $10k but since it was over $9k I didn't consider that much of a consolation. Anyone here buy and sell spreads? How does your broker deal with the margin requirements for this? Tim

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