Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: FaultLine who wrote (458)	5/7/2001 6:38:18 PM
From: cfoe	Respond to of 5205

One thing Thomsett harps on is that you should NOT use a broker to advise you when you are an option trader! Not at all. My experiecne was just the opposite. I am mostly doing options (CCs) in my SEP and my account broker was the person who first introduced me to doing this. She has consistently been helpful in my timing my sells and repurchases/expirations. guess it all depends on the competence of the broker and your relationship with same.

To: FaultLine who wrote (458)	5/10/2001 5:49:45 AM
From: FaultLine	Read Replies (1) \| Respond to of 5205

One thing Thomsett harps on is that you should NOT use a broker to advise you when you are an option trader!...This advice, offered in the context of a beginner's book, gave Thomsett a certain cut to the chase / no nonsense credibility to my mind. Disclosure I've received PM's from people saying they are very pleased with their broker's option advice. I think a little what you are hearing from me about that issue is from my own bias over a bad experience with my ML broker 20 years ago. He talked me, a complete novice in the market and just finishing grad school, into buying 20K of calls which expired worthless. I was very bitter about this for a long time. I had just blindly trusted his advice*. Talk about Being and Dummyness... So please, I'm not trying to disparage your broker, OK? --dfl PS He was the guy who once bragged to me that he was going to retire before he turned 45. Live and learn.