Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 283.56

-1.7%

Nov 17 4:00 PM EST

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To: robert b furman who wrote (47594)	4/26/2010 2:41:00 PM
From: Ian@SI	Read Replies (2) of 95427

Bob, My broker has about 4 levels of option permission for its account holders. Selling naked PUTs requires the highest permission level. Essentially, they want to be certain that the client understands options, is a sophisticated investor and fully appreciates the risks being taken when selling uncovered calls or puts. They bypassed that for me when I told them that I just wanted to be able to sell small numbers of Naked Puts in order to buy shares of the underlying for a cheaper net price than the current market. Usually my broker would start new Options customers with authority to buy Calls or Puts and Sell covered calls.

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