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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (113849)	6/2/2000 12:12:00 AM
From: chic_hearne	Read Replies (1) \| Respond to of 1572587

Re: How much experience does your broker demand in order to be able to write options? Tim, I forgot to mention that, I can't write naked calls. Read the fine print, if you can buy calls, you can probably write covered calls. I'm sure how much this has to do with the brokerage and how much has to do with the SEC. Either way, I think it's based on a combination of your account balance and experience. I'm positive age matters, because I applied in my account and my moms account at the same time, put the same experience and knowledge level, but her account was approved for far more contracts. Writing puts and calls was denied in both accounts. chic

To: TimF who wrote (113849)	6/2/2000 12:15:00 AM
From: Joe NYC	Respond to of 1572587

Tim, How much experience does your broker demand in order to be able to write options? Covered call approval is fairly easy. If you have traded stocks for a couple of years and meet their income / minimum account requirements (if there are any), you should get the approval easily. To approval to be able to write naked puts is a more difficult to get. They will ask you million questions about investing experience (which they have no way of checking) and they will have more stringent income / minimum account balance requirements. Joe