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To: TimF who wrote (106793)	4/19/2000 11:01:00 AM
From: Elmer	Read Replies (2) \| Respond to of 1574386

Re: "How long does it usually take to process a margin and option agreement? I guess it would vary a lot depending on the broker, but I'm looking for a ball park figure. My form should arrive at my brokers office today. Is it possible I'll be able to trade using it tomorrow or will it take a couple of weeks?" It depends on what you applied for. If you only asked to write CCs then you might get it the same day. If you asked to do more risky trades it could take a week or more. It took me about 3 weeks to get put writing authorization in my IRA. EP

To: TimF who wrote (106793)	4/19/2000 11:14:00 AM
From: that_crazy_doug	Respond to of 1574386

<< How long does it usually take to process a margin and option agreement? I guess it would vary a lot depending on the broker, but I'm looking for a ball park figure. My form should arrive at my brokers office today. Is it possible I'll be able to trade using it tomorrow or will it take a couple of weeks? >> It took about two days after they got my form, but I couldn't tell that I had permission by looking at my account online, and I had to call and ask to find out. If I waited for written confirmation the whole process took like 2 weeks. (I use ameritrade)

To: TimF who wrote (106793)	4/19/2000 11:19:00 AM
From: chic_hearne	Respond to of 1574386

Re: Is it possible I'll be able to trade using it tomorrow or will it take a couple of weeks? Tim, Count on at least a few weeks. Options will probobly take longer than margin to set up. chic

To: TimF who wrote (106793)	4/19/2000 11:41:00 AM
From: Kenith Lee	Read Replies (3) \| Respond to of 1574386

Level 1: selling cover calls Level 2: buy and sell option Level 3: writing options (uncover) If you are new to options. You won't be getting Level 3 soon. You may get Level 1 after reading the handbook (required by law). After a probational period, you may apply for level 2 (they require you to read that damn book again). Level 3 varies from broker to broker. Some review your option trading history. Some require years in trading options. Level 3 requires a margin account and a large equity balance.