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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: NateC who wrote (10718)	5/11/1999 10:07:00 AM
From: David Wright	Respond to of 14162

Roger, I completely agree with you on naked puts. The issue for me is that I just don't have the reserves that I want to keep laying around in case I need them to cover my position. I would far rather commit them to a position like CCing, and know that I have the ROI nailed, along with some downside protection. I would also challenge anybody to figure out from one day to the next how much buying power they actually have in their margin account at any given time. I think most of the brokers commit at least 98% of their computer capacity (and certainly 173% of their in-house intellect) to recalculating my margin account just so I can never figure out where the hell I am from one trade to the next. Having sat through 100's of minutes listening to Ameridumps insipid voice recording while I waited for a marginally capable so-called "broker" to answer the phone, so I could get sent to his supervisor's voice mail, who would then never respond to my howls of outrage...oh, you get the picture.