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http://www.tdwaterhouse.ca/services/dtfeatures.jsp may even need margin for long calls/puts. (???)

oh really? I stand corrected.... When I inquired about Covered calls to TD Waterhouse in 2007, they told me i needed a margin account. Maybe they changed their rules.

or if you're in Canada, covered calls requires a margin account as well.

thanks for the advice. i know "you" can't learn to swim from a text... and i'm motivated to learn and trade. But i want to learn as much as i can before trading, even for play, so i can (hopefully) make better decisions, avoid trivial mistakes, and alleviate frustration caused by lack of...

I still feel like I don't have the knowledge to apply the things yet... I'm still trading basic strategies for now. I want to get to Cottle's book, but after going through it, it appears as though I'd better know my stuff before immersing myself in his work. ahhh, fair enough :) and...

alright, that might make most sense. I don't consider myself a complete beginner, though I have lots to learn. I'm reading Natenberg right now. It's going slow but I'm getting all of it. I know this book is large, so it may not be practical to read the whole thing... I just may have to...

^ lol thanks guys, appreciate the advice. If this is a reference book that I would refer to, even after knowing more, then I'm sold.

Hey, I know McMillan has been recommended here several times, and so I'm wondering if I should get his book. I need to understand more what the best entry points are, managing positions, and repairing. (e.g. knowing a butterfly and knowing how to trade are different things). So I'm either...

no... I just do this regularly on a friday or saturday night... =)

ohhh i see, that's funny. you know, that's one of the things missing from options literature... I read an entire (beginners) book, and I didn't know I could buy back a short position. I also didn't understand how the clearing corporation worked, automatic exercise etc. I pieced it...

what triggered this message?

Thanks so much gentlemen, you've saved me from making a mistake. The underlying made a big move today (+12.5%), which i would have paid for. Amazing, this thing doesn't move at all for the past 6 weeks. Anyways, thanks again.

Morning, I'm long an ATM September call, and I'm thinking of selling an ATM Jul Call. If this expires in the money, (which I think it would), what's the likelihood of being assigned? I'm hoping to collect small intrinsic premium, is this realistic?

thanks again, i'm showing my noobness... i guess it's a good thing I ask before I trade! the page I read was way off then... http://www.optiontradingpedia.com/free_iron_butterfly_spread.htm there's a summary on that page... that states the iron is the "highest max (potential) profit".

I'm looking at the iron butterfly, and pricing vs. the butterfly, and something is telling me the iron is too good to be true. Aside from lower commissions (from what I understand), what benefit does the butterfly have over the iron version? It just seems you're getting paid for a strategy...

+1 this is still really surprising to me

okay thanks guys... appreciate the feedback.

I'm sure this is in some book somewhere or on the internet but... I was playing around in TOS, and thought about the collar discussion. Then I got thinking... What if I bought synthetic stock -Short ATM Put -Long ATM Call Then I protected it? -Short OTM Call -Long OTM Put...

^ i'm gonna go with yes. "i think ABC will rise" -> long call, bull call spread, bull put spread, etc. "I think ABC will fall" --> long put, bear call spread, pull put spread, etc.

spin, if that's true, some people need to spend less time f*kn around on a message board and more time learning to trade. how do people that have that much time go ahead and waste it is beyond me.