How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Daniel Liberty who wrote (7967)	7/27/1998 2:51:00 PM
From: VincentTH	Read Replies (1) of 14162

Dan, I am considering moving my account from Fidelity to Waterhouse for the same reason. It would cost an arm and a leg to establish spreads at Fidelity, for margin requirements. (You need $10K for the first Debit spread, margin are not required for subsequent Debit spreads). On the other hand, the cost to buy/sell 5x2 options to set up 5 spread is about the same at Waterhouse ($37 for the long, and same for the short). There is no margin requirement for Debit spreads at Waterhouse. I suspect that at some other option oriented broker (Brown, PBS etc....) you can have substantial savings on commissions over Waterhouse. //Vincent.

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