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

To: Uncle Frank who wrote (2842)	10/23/2001 11:35:51 PM
From: Thomas Tam	Respond to of 5205

Unfortunately due to the securities laws, Canadians can not access US registered investment firms (at least not legally). Just as an example, the SEBL that was assigned to me cost $99 as the assignment cost (for 1000 shares only). To buy back the 5 to 10 cent option would typically cost about $40 for 10 contracts, and then $29 to buy the 1000 shares. I guess I could have saved $10 dollars by buying back the puts and buying the common versus letting the put be assigned to me. Even with so called competition from the likes of Etrade and Schwab, the commissions from these discount brokerages have not dropped to levels comparable to the US. Later Thomas