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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: jhs565 who wrote (13699)	5/21/2001 10:20:58 AM
From: GAB1	Read Replies (2) \| Respond to of 14162

Solomon Smith Barney. I think it's called the Asset One or Select Client account. Quarterly fees are charged to the account based on an annual percentage rate that scales down with larger balances. Keep over $1MM and it's less than 1%. Minimum bal is $50K. If you are active, and you compare the normal rate for trx fees at a full-service firm it is very cost effective. I know there are very inexpensive ways to trade online, but you get what you pay for. My guy covers the annual fee within the first few months just by pulling the trigger more accurately than I could. Plus, I just lay out the parameters: Only Covered --no naked trading, Strike higher than share cost on sell, premium cheaper on buy vs. sell, & far term Puts for downside protection. He does all the work watching, buying & selling. Even if I could dedicate my day to this, I'd still do it this way. I decide on the underlying position changes. He churns the Calls and sends me a daily updates. High profit & low maintenance. --GB