To: jgibbs who wrote (1520 ) 4/25/1998 10:37:00 PM From: Lee Penick Respond to of 2394
Jgibbs, regarding: "Lee, Am interested in doing some bull call and put spreads on ORBI but think Schwab (current broker) may be too slow and cumbersome as well as too costly. Have you any suggestions as to good brokers and costs when doing these spreads" I was a Schwab-y at one time too. They aren't discount enought for me either. I am currently with Jack White and Co out of San Diego. They do a pretty good job and research problems when I think I got a screwing on an execution. But their prices are a bit high so I am changing to Ameritrade and praying I don't regret it. Should know in two weeks or so. I hate changing brokers, but also hate overpaying in commissions. Jack White does not have a good web site and Options are not even included in it, dumb, dumb, I think Ameritrades is better, but I am afraid of being one in a million there and getting poor service. If so, I will change back. I use DLJ direct and like it for my IRA, but they don't do spreads or naked puts....so thats no good for the regular account, plus their options are a bit high, but great software, maybe the best! Have a friend with E-trade and is happy with it, but they don't sell a mutual fund I insist on keeping, so I selected Ameritrade instead. Prices are almost identical I believe. Keep me aprised of your option plays and thoughts if you would. I need more experienced people to bounce ideas of off. You can always email me if that works. best wishes, Think ORBI will turn back around Monday and head up to 50 to 51 in the next several days. I bought a few shares last week and almost asked the broker to fill my at something just over 50, just to break the 50 barrier, hows that for a team player!!! Lee