Recent content by orimsh

every broker asks for the original W8BEN, don't make an issue... stay with TOS they are the best for options trading. Good Luck!

T2S, Can u explain please more in details the strategy?

Open Int are OK (40k and 80k) but volume is around 0, who trades these puts...?.... FSU is right regarding closing it as a spread

Dear FSU, you're right about the other posters syggestions that a new position would ve created.... however seems like I'm missing something in your explanation... if I want to avoind the div charge, then you suggested to exsit the position as a spread - meaning place a complex order of buying...

that could effect a loss for the downside.... I mainly want to get rid of this position (-69 deep ITM put & -6900 spy shares) in order not to be charged next month for the dividend which is usually 50-60 cents.... FSU - following to your fisrt relpy - didn't get exactly why should not be...

Chuck..I didn't get it.... cover the stocks (buy 6900 stock) and which puts to buy?

I also got a suggestion to use covered calls: buy 6900 SPY shares and sell -69 calls (can use ITM or OTM depend on risk) then the premium that I get from the calls (that would probably be assigned before Friday morning-dividend day) in this case after that the calls would be assigned on Friday...

Thanks FSU.... Those "leftovers" are from a position that had many legs, I left those -69 ITM Puts and -6900 SPY shares to be flat on Sep exp, and since I couldn't trade this exp. cycle, however the dividend issue is one of the reasons I want to close the position I don't want to pay SPY div...

Hi, I have some "leftovers" from previous SPY position: Currently hold for Sep 11 exp (9/17) - underlying is SPY: -66 short SEP PUT135 -3 short SEP PUT134 total of -69 short puts in addition there are -6900 short SPY shares. So basically I'm flat... however, I do need to close...