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To: pater tenebrarum who wrote (3817)	7/14/2000 12:04:05 PM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

Re: why do they limit you at all? very strange - or is this in connection with shorting options? heinz, I'm not sure, maybe because I'm only 23? I can buy puts and calls, but am not authorized to sell puts or calls, unless they are covered. I do make some trades in a relatives account when I want to do a straddle or something, but it's a bitch trying to figure out how to transfer the money with taxes, etc. My account is with Suretrade. I applied with MER where my mom works and got the same crap from them. My account is getting big enough where I can have all 190 contracts used up and still have cash left over. I've been real happy with the fills I've been getting though. About 1 out of 4 limit trades I make gets filled better than my limit, so I'm reluctant to switch brokerages. By the end of next week, somethings going to have to give if I get the action I'm expecting out of AMD and IBM.

To: pater tenebrarum who wrote (3817)	7/14/2000 12:07:36 PM
From: John Graybill	Read Replies (2) \| Respond to of 436258

They limit you for the always-exaggerated "hit by a truck" situation -- you buy the options, you get hit by a truck, you get exercised on Friday, the stock goes the wrong way for you on Monday, and all of a sudden somebody's on the hook for the loss of many points on many hundreds of shares. They're real pricks about it sometimes. I was at my contract limit with a bunch of options that were so far out of the money I couldn't even sell them, but they wouldn't budge and let me buy anything else. Initial option limits are something like 50 contracts, or maybe only 25.