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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Autumn Henry who wrote (27831)	11/5/1997 8:02:00 AM
From: Nemer	Read Replies (1) \| Respond to of 58727

Good Morning Autumn: My mainframe doesn't have my OEX figures ready yet this morning but I will answer your question about the wrap account. I'm not sure the name "wrap" is an industry standard but most brokers I know understand the term. It denotes an account which is billed on a fee basis rather than a transaction basis. In my particular case, I pay a percentage (it is negotiable, btw, most brokers won't tell you that) of the total amount in the account and agree to not let the balance fall below a stipulated amount. Of the two I checked out, fees range from 1 1/2 % to 3 % and minimum balance varied from 100k to 1M. Olde has advertised heavily about their commissionless account---it's probably a wrap. There are disadvantages with the one that I have--- .....nearly impossible to get a fill between the b/a on a fill or kill .... VERY FEW times I use a market order, I get tapped for 1/16 or 1/8 ....no online accessability ....no options availability The advantages outweigh the bad so far tho--- ....speed is good ....execution is good ...price is relatively inexpensive (my trades have averaged $3 ) ....confirmation is good (both oral and written) ....expertiese from broker, home office, and trading desk is good Any more questions about it that I have failed to cover----ask away. Regards---Nemer