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

To: JohnM who wrote (1160)	6/21/2001 6:16:48 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 5205

John ; They have to let you buy "protective" puts on stock you hold even in the IRA , if they tell you no then they don't know the law. You can't buy and sell any naked options in an IRA , only write covered calls, or buy "protective" puts. But after you got em you can trade em as long as you hold the stock. ---------- It's mostly academic for me now as I seldom mess with stocks any more, I play the QQQ or baskets. ( but only baskets that have options) If someting don't rate an option I stay clear of it. I did break my rule today on a long shot..when EXDS got hit so hard I slipped in a small bet on her at 1.30 and sold leaps at 5 for .60..so I'm in her at just over .70..it's a long shot as she could go belly up so I didn't bet much. ( it's an all or nothing type bet ) the way I see it they gave me about 3 to 1 odds that she will go broke..but my hunch is 50/50 that she is going to get bought Why else would they be paying off the debt ? Well anyway on penny stocks like that I put em in my IRA and forget em till ex date. ( unless they go way up like cnc did ) then I buy the puts. ( if they get dirt cheap). CNC was a penny stock when I bought her. Jim