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Biotech / Medical : biotech binary events -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (248)	4/10/2007 11:42:43 AM
From: kenhott	Read Replies (1) \| Respond to of 295

I personally do not like ETrade.. maybe they have changed but likely not. One thing I have learned is to make sure the account can cover the positions in these situations. I blew one up a long time ago and it was not a happy ending. BUT... 50% gain. Not too too too bad. Is it beer time yet??? lol.

To: Robohogs who wrote (248)	4/10/2007 7:26:38 PM
From: IRWIN JAMES FRANKEL	Read Replies (1) \| Respond to of 295

Hi Robo, That is a rather scary story. Not sure I understand it. >>They force bought back the short shares triggering a margin call in this fringe account of mine. They then bought back the rest of my short calls triggering an even larger call as my long calls were no longer in spreads. If I understand correctly, you had the shorted shares and written calls BUT you were long more in the way of calls than you were short even when you aggregate the short and the call-write. If I have it right, I do not see why that situation should cause any forced action. Sounds like they screwed up which is believable in the DNDN fog-of-war. It is still scary and I have done naked options since the early 1980's and am not easily scared. When I do naked options I use several layers of risk mitigation. I am about to expand the naked writing with it's own dedicated account and it's own dedicated capital. I have been testing Sinkorswim's trading platform and am fairly impressed. ij