Options 201: Beyond Obi-Wan-Kenobe Message Board

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Strategies & Market Trends : Options 201: Beyond Obi-Wan-Kenobe

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To: Dan Duchardt who wrote (980)	4/16/2004 11:39:47 PM
From: Dominick	Read Replies (2) of 1064

Dan: On another site, someone stated he wrote some naked puts and if he get's assigned he'll sell the assigned stock and use his funds to make up the difference for the loss. I said if he doesn't have sufficient funds by T=3 that would be considered freeriding due to buying and selling without paying for them. He said he checked with OptionXpress and their broker said they don't require funds to be deposited as long as you let them know by Monday after assignment. To me that means I could take possession of thousands of shares without sufficient funds to pay for them and immediately sell them as long as I have enough funds to cover the difference. Does that sound right to you? Dom

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