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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: Jill who wrote (13572)2/3/2001 7:00:48 PM
From: BDR  Read Replies (1) | Respond to of 14162
 
Check your option agreement with Fidelity. If you are approved for spreads, you can. If not, ask to change the level that you are authorized to trade. You will have to fill out the option agreement again in that case.



To: Jill who wrote (13572)2/4/2001 1:25:55 PM
From: jaytee  Respond to of 14162
 
"is that considered being naked on the calls?"

No, it's still a COVERED call. Only difference is you are: a) using LEAPS (Long-term Equity AnticiPation security)as a PROXY TO OWNING THE STOCK and, b) you are doling out LESS $ (and exposing less to the market) on the purchase.

Check out Herm's wins site, and I suggest you buy LEAPS by Harrison Roth.

Hope this helps
jaytee


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