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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: Greg Peckton who wrote (14144)	1/30/2004 8:52:23 AM
From: Bridge Player	Respond to of 14162

Assuming: that you own 100 shares of each stock for which you want to sell 1 call, that the stock has options trading on it, that it is the same account as the one in which you trade options, that you have signed margin and option agreements, then I think you need to take a firmer stand with your broker, and ask him to show you the company policy, or perhaps to speak with his manager, so as to better understand the policy. If you are sure you are on solid ground and make it clear to him you know what you are talking about, IMO your broker will quickly back down. If not, change brokers.

To: Greg Peckton who wrote (14144)	1/30/2004 5:52:28 PM
From: Ira Player	Respond to of 14162

That's pretty strange. The normal progression for Option trading approval is: Lowest - Not approved for options trading Add - Buying protective puts and writing covered calls Add - Buying puts, calls, straddles Add - Placing spreads Add - Selling uncovered puts, calls, straddles Covered calls are considered the most conservative option strategy and are usually authorized before speculative purchasing. Find another broker... Ira