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Technology Stocks : Veeco Instruments-Who?

VECO 29.30

-0.9%

Dec 24 12:59 PM EST

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To: Carl R. who wrote (1988)	3/25/1999 12:42:00 PM
From: Mark Ivan	Read Replies (2) of 3069

Carl, >>The problem is when you get carried away and forget the risk. I agree that that must be the case. You can do covered calls at option Level 0 (even in IRA'a) and this is the same as selling a Naked Put (need option level 3). That was my complaint to Schwab. You allow me to do one thing, but don't allow me to do the same thing in a different fashion. And too boot, you allow me to short, which is even riskyier (is that a word?). I was at level 1, and re-apllied for level 3. They came back and approved me for level 1 (the same darn level I was at). I wrote a letter to them and they bumped me up to level 2. I can now do spreads. Whoopty doo... Must be my level of capital holding my back. So for me to sell naked PUTS, I would have to buy the stock, short against the box, and then sell covered puts on my short position. More commissions for them. ON a better note (and to keep this somewhat on topic), I had a GTC sell on yesterdays VECO block at 38 5/8. For some reason it went off at 39 3/4 (Veco opened at 39 1/8). Not sure why, but I am not complaining. Gotta love those boys at Schwab.... MArk

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