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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (12838)	5/29/2000 11:07:00 AM
From: Casaubon	Respond to of 14162

very interesting! Thanks for the lesson.

To: James F. Hopkins who wrote (12838)	5/29/2000 9:30:00 PM
From: KFE	Read Replies (1) \| Respond to of 14162

James, Mostly I trade the QQQ in this maner. It just speeds up getting short, on top of that you can't always get qqq shares to short and all short sales have to be OKed by a broker if for no other reason than to see if they have the shares to lend Precisely the reason why this is a violation. Every time a customer shorts a stock the broker has to fill out an "affirmative determination" statement verifying that the shares can be borrowed. When you have a boxed position and sell the long side both you and your broker no longer own the shares and will have to find some shares to borrow before you can short any shares. What you are doing circumvents the law and is a violation. Have you tried calling your broker prior to the opening and reserving shares to short for the day. This usually works and there is no obligation to use them. Regards, Ken