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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: Herm who wrote (10078)	3/26/1999 1:33:00 PM
From: RDHickman	Read Replies (1) \| Respond to of 14162

Hi Herm, About Brokers - I found a new one via the Online Investor e-mail I receive once a week. It is Mr. Stock at mrstock.com The site is helpful. The Company is located in San Francisco. Started by frustrated Option Traders. Option Trades are by phone (800) only at $19.95 plus 1.75 per contract. Called them. VERY helpful. Yes, they do Leap Spreads, Yes, Leaps as Stock Substitute - Write conventional Calls and Yes a Trader can establish a "married" Leaps Put to a purchased Leaps Call! (Thought I would see if this was possible - and it is! Wow!) Bare with me, the "married" ITM Leaps Put tied to a DIM Leaps Call as a Sub. would really create the Protective Put over the entire term of active contracts. Seems ideal to me. See Chapter 16 Roth's book. I don't think I am mixing apples and oranges here, if so, please straighten me out. I hope all this exchange about L.E.A.P.S doesn't side-track the value of convention Covered Calls for other students. There are so many Techniques & Strategies & Enhancements and Variations to consider. Just when I think I've got it simplified for my simple brain, I find myself in Left Field and have to re-trace my steps. My learning curve is still straight up. W.I.N.S is a great foundation! Enjoy the Expo & Seminar! Thanks,/Dick

To: Herm who wrote (10078)	3/26/1999 2:29:00 PM
From: Woz	Read Replies (2) \| Respond to of 14162

I am with Dreyfus and indeed they allow spreads on options, however, the short side has to be phoned in to their broker (as opposed to their internet site) at a higher commission rate. I have heard that with a little whining, you can convince them to give you the internet rate, but I have actually never done an option spread, so I am not sure. Their margin requirement for naked puts however is a little ridiculous, from what I understand, they require $20000 plus the exercise value of the put.