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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: im a survivor who wrote (8696)	8/10/2002 7:43:03 PM
From: Sig	Read Replies (1) \| Respond to of 13815

<<Not too bad and keep up the good work....I fully understand what you are doing, and why.....I just figured if you got the calls at your price, you could make more ROI, and make it worth the commissions, taxes and cost for accounting. Any profit is better then a loss>>> Trading costs: I am dealing with TD Waterhouse- The cost of any stock trade varies from $10 to $13 -any amount. Option trades cost vary from $21 for one, to $54 for 20 which varies as it is a fee based system Which comes out to less than $3 per option for the 20 options. ( I am guessing at the exact cost, but it becomes negligable compared the gain or loss on the trade itself.) If dealing with MSD, as I once did, I would have to give up trading because of the fees. If you qualify for their Client Serve category, all trading was free but there is a limit something like 50 trades per year ? > And if you exceed that, they can collect fees for ALL the trades you made. I was trading 50 times a week, so they asked me to stop.( in a nice way) On accounting: Our accounting is done on the computer, software Managing your money. Press a few keys and zappo, it produces a list of all trades for any selected stock for a one year period or one month. Sometime in January you can print the whole account. And the bookeeping consists of writing down the trades on the IRS forms plus entering the trades on a daily basis which does take time.. On calls and options: That the way CEO's get most of their pay, so why not us? . I could not be writing here except for once owning some Dell leaps, (+2700%) some Qcom and Yhoo calls. Should have learned to deal with puts too though(hahah) But this market of past two years demands a different agenda. Like trading them. On covered calls. I envy those who have taken advantage of doing that. I dont do it often as I prefer to remove money from equities and did not need more confusion in what stocks could be sold or not sold. There is one hazard not mentioned often. If you think a stock will go down and sell a covered call at $2 on a $50 stock with 50 strike and it drops to $40 a person has then lost $8 and thus should have sold it at $50. There are ways around it, buy 'em back, roll 'em out , use spreads and puts. If one is entertained by that effort and makes money at it then go with it. Probably safest on stocks locked in a channel tho. Its just "not my bag" at this time and not in my future agenda. . And something to think about: I've been up and down in a major way three times in these equities- somewhat like Freeus, who is writing a book ( and in the same stocks, incidently)<G> I told her there would not be a fourth time for me. Meaning a 4th time for leaving profits in the hands of the brokers. Might keep some Dell tho ( hehehehehehehehehe) Just to watch Michael with his high wire acts. . . TTMAR