Hi - TY & ?
Hi Steve - We just "found" this thread and appreciate it very much. [It is also perfectly fine that there is the Yamner thread, as we were unaware of the Company, and feel that the instant thread would not be the best place to inquire about it....to the contrarians: the thread will sink or swim on interest...]. We have 2 questions that hopefully you can answer & will have benefit to others as well:
>1. On 12/12, on one of our accts. in which we trade on-line, that does not have proprietary sofware, I wanted to Buy to Close a number of option K's [=contracts] and Buy to Open several more - all on same issue, month & strike price. Due to the "limitations, " I had to do it in two separate orders, then promptly sent an e-mail stating that it should be one commission. The reply I received said two commissions. Agree? My thought is: If the sys. would let me, I would have bought all @ the same time; and, if I just bought all "...to Open," and called or e-mailed to match-up the "Closes." would that have been the same? What do you recommend forget 12/12....for the future]?
>2.. On option expiration, we have been put in a "lottery" to see if our stock on which cov'd. calls had been written would be exercised & assigned. I have tried to track WHERE and HOW the actual decision is made, as some patterns troubled us [=appeared not to be FIFO, or any systematic basis... ]; the "randomness" is quite questionable. Chk'd. through readings from CBOE, etc., but cannot ascertain the decision-point of which shares from which accts. [@ the brokerage level or otherwise, and by whom]...while on this: Can the brokerage " exercise" if some "left-over," thereby forcing a sale [& repurchase]? For anyone reading this who is unfamiliar: This only occurs when the stock closes on or slightly above the strike price.
Thanks again -and to all contributors- foryour time and gd, thoughts. Try to do our part, too.
CJ, et al. |
