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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER!
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To: Brett Verinck who wrote (669)2/8/1999 11:57:00 PM
From: Gary Korn  Read Replies (1) of 2045
 
Brett,

I too have considered ABWatley in the past, and still consider it at times, but the lack of naked option writing is disconcerting. When I select a broker, I want it to be able to handle all of my investment/trading needs. A full panoply of products (including naked option writing), in a discount house, is one reason I am so happy with Fidelity.

Frankly, life is too complicated to have to add the additional worry of which account can be used for what purpose. I think your president would be pleasantly surprised by the influx of accounts that could be generated by the lifting of unnecessary restrictions.

Gary Korn

P.S. I can't figure out what is wrong with handling a naked put. Worst case, the stock goes to zero and gets assigned to the option writer. How is that any worse than owning a stock outright? You handle the leverage problem by deducting some percent of the cost of the stock outright from your client's marginable equity.
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