Chris; RE:" options on E*TRADE "
>>E*TRADE will allow naked CALL writing if you qualify...
>As far as I know ETrade does not allow anyone to write naked calls. Their highest level of options trading allows for naked put writing and some other index options stuff. I checked into this 6+ months ago.
I guess we're both maxed-out then, Chris. Thanks for the info, man!
>>I write naked PUTs on E*TRADE all the time...
>Any particular strategy that you have taken a liking to ?
...mainly when I want to purchase some stock for my CORE, Chris; I'll sell a naked PUT with the intention of being assigned, with the hope of discounting the price at which I am willing to invest in something. This is my most frequent use of PUTs.
...otherwise I like to sell naked PUTs (rather than buy CALLs) to play a "dead cat bounce"; eg., Gersh's AMZN last Thursday. On bellwethers, though, I'll skin dat cat with stock, and keep the hoped-for profit as some number of odd-lot shares in situ and forget about them.
I did a few short/long ratio PUT backspreads a couple of times (because I could not short CALLs on E*TRADE) as I was curious and wanted to fiddle with it. Lotsa work, but I've always been fascinated by spreads.
What kinda trading positions are you into these days, Chris ?
-Steve |
