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July 11: activity - BUY 8 NE DEC 42.5/45 @ 2.0 Stock at 59.15, cost = 1600 + 11.2 comm., expected gross profit 400 *** Portfolio status: (does not include today’s new spread, previous report June 18) Maximum value of spreads if 100% success = 195440 Present value of...

Not sure I understand your question so this might be simplistic.... But exercised options are not listed on the 1099 as options. If you sold the stock, by exercising the put, it would be listed under 1099 stock transactions, assuming the transaction was completed by having bught the stock...

Due to factors unrelated to trading, my vacation was cut short. (sigh.) 7/1/08 – Market plunges, great start to vacation. ******* 7/2/08 – activities: SOLD 3 BHI OCT 50/55 @ 4.85 GTC order, cost of spread 3.8, gross profit = 315 ****** 7/3 – activities: SOLD 4 EWZ...

rts - you can put whatever you want in a trust, and leave out whatever you want. And FBO whomever, and desiginate whatever part you want to any people you decide to. We are off the topic, all I want to do is rant and rave about a lousy piece of paper. And it is my understanding from...

Well, I guess a trust is cheaper than probate. OK if I'm still mad?

I also an a trustee with trading priviledges to a trust account with IB. and it is not difficult. It's cost money and time to set up a trust. Unnecessary when a lousy piece of paper can do the job. All I'm complaining about is a lousy form Beneficiary Plan - Transfer on Death. It's a piece...

Oh yeah, one more thing - IB doesn't let you transfer anything but cash from one account to another. So you have to either liquidate your positions or wait for them to close before you transfer. And don't forget the 10k minimum to establish a new account. Give me a break.

oldtrader, I could do a trust also and accomplsh what I want. But it' s another tax form to fill out every year. If that is wha i have to do I'll do it. But I'm still mad. TDAmeritrade, Edward Jones are two brokers that assign. I know there are more that do, but what about deep discount brokers?

So we have to fraudulently transfer funds to accomplish what should be an legal smooth transfer. I can live with that! Thanks for the pat on the butt, guys. But I'm still looking for better way, if it exists.

I can't believe this. I just talked to my lawyer yesterday to update my will and tend to minor stuff. Anyway, it seems that almost EVERY BROKER has a way of letting you assign a beneficiary to your brokerage account. If you die, the funds in the account transfer on death to whoever you...

Monday’s activity: BUY: 5 UNG JAN 40/45 @ 4.0 Stock (ETF) at 62.34, comm.= 8, (cost = 4X100X5+8.8= 2008.8) expected gross profit 500 (increase position from 10 to 15 spreads) BUY: 5 GLD JAN 75/80 @ 3.90 Stock (ETF) at 90.9, comm. = 7, (cost=3.9X100X5+7=1957) expected...

One other point I should make. In this strategy there is a temptation to take early profits and put he money into new spreads with higher yield. It doesn't work. You would be constantly taking funds from your best safest spreads and replacing the spreads with higher risk positions. At some...

John - I calculate 12.8% for 7 months for 21.9% annual yield on the Jan puts. But consider the safety of this position and how extra deep it is. It beats a CD rate of 3% at little added risk. I can always close the spread when I can use the money better, but right now I'm sitting on other...

Surf - I was a field technical guy in the oil patch, way back when.

Mixed reports. Hard to read if an opportunty for eventual recovery of just doom. Any ideas for long or options?

Leases are generally acquired on speculation. After they are acquired, they are explored first by surface masurements like seismic and resistivity. Then the decision is made whether to spend millions on drilling exploratory holes for more accurate information. Not every lease has oil, not all...

Friday’s activity: No Trades today. I forgot to mention yesterday that a lot of EWZ SEP 55 and 60 calls were assigned early. Several of my accounts were affected, however there was sufficient funds to handle the short positions, and I exercised the long calls without incident. It was...

John - I had the same thought. But read the bottom part of the post where I was proposing increasing yield by going out to the next strike date. What do you think?

Thursday’s activity: SOLD: 5 GDX SEPT 40/43 @ 2.0 Stock at 45.5, net LOSS 192.6 (while I’m a gold bull, I have less faith in gold stocks. Used strength today to rid most risky position in GDX.) SOLD: 4 MTW SEPT 25/30 @ 3.9 Stock at 34.5, net LOSS 31.4 (near breakeven...

Wednesday Activity: SOLD: 5 EEM JAN 110/115 @ 3.8 Stock at 137.74, net profits = 14.4 (Reduced position from 10 spreads to 5 spreads. Defensive move in response to less bullishness on overseas investments.) SOLD: 5 UNG OCT 42/47 @ 4.15 ETF at 60.15, net profit on = 357.40...