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To: edamo who wrote (186)6/14/2000 10:32:00 AM
From: AmericanVoter  Read Replies (1) | Respond to of 1115
 
ed, I spoke to the head of the options dept. at Wall Street Access... his name is Sean ...

the collected premium is locked away... can not be used... and is adjusted on daily basis to maintain the margin maintenance requirement along with % of underlying

on another note, the new requirement which is % of strike as opposed to % of underlying's current price is for small brokers and not for firm brokers...

best regards
amein