Don Fishback's ODDS System Message Board

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Non-Tech : Don Fishback's ODDS System

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To: ccportfolio who wrote (25)	9/20/1998 3:05:00 AM
From: watcher	of 48

Thread, As I understand it, "level 3" in this context is not the same as "level II" in nasdaq training -- the question someone asked about the extra cost for level 3 makes me wonder if that's understood. When you open an account, you get a level at which it is permissable for you to trade. For instance, level 2, I believe, is to trade puts & calls by buying and then selling those you own, and also writing covered calls, with some limited kinds of options trading strategies. Level 3 I believe allows writing of uncovered ("naked") puts & calls, and is usually required for most of the options trading strategies... Getting quotes for options chains is another question... watcher potentially putting foot in mouth so someone will correct my misconceptions....

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