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Jun, Sorry about that - the Strike Price of the calls I sold are $16.00. So in fact the calls were ITM by a little under $0.06/share. From what I'm reading from other posts - the suggestion is that Scottrade is making me "ante up the margin" to cover the options in the event they get...

Jun, Here they are (thanks in advance!) Purchased 2700 Shares @ $16.0589 (average price) Sold 27 Call Contracts @ $1.80 Purchasing power (on a margin account) went from $89,848 to $30,076 (!!!!????) Thanks.

So I have an account with Scottrade. Apparently I cannot do naked calls or naked puts with them. Either way - I purchased some stock and wanted to put my position in with a Short Call. I did just that - however - I'm wondering why the sale of the call took my Buying Power LOWER? I...

I'm assuming that's a slam. Gee - thanks! And if not - would you please be so kind as to enlighten me?

So several of you have enlightened me to naked calls. I guess I understood the concept - just not realizing that's basically what I was creating. But then in this case (naked call) what would be the best risk protection while you're "waiting it out" to either get called or option expire...

So what I think I'm reading is that you sell a call WITHOUT owning the underlying stock? CAN YOU DO THAT? And also, wouldn't it be safer to do what I'm proposing because you know exactly what your cost basis is in the event you get called out of the stock? Oh-and thanks for not beating me...

Admittedly - I am new - so be gentle with me, please. I bruise easily. But here's my latest brain scheme: Find a high volume, volitile stock that has out of the money or at the money call options with premiums that are 9% of the stock price or greater. Buy the stock. Sell the call...

Actually - I just had a response from www.ChoiceTrade.com Here is the response: Dear Sir, Yes we do allow short selling in after hours markets. Please be advised that it is highly risky. Thank You -- Regards, ChoiceTrade Client Services http://www.choicetrade.com...

I am with Scottrade currently. They do not allow a short sell order during after hours and pre market hours. Are there any good, strong, discount brokers that allow short selling during the after and pre market hours? Thanks.

So look at NAT for instance. Are you telling me that I could have purchased NAT on the VERY day it was x-div (that being 8/18/08) and then sold it the same day to qualify for the dividend? (Forget about price consequences for a moment.) This is in direct conflict with what my broker tells...

So are you saying that if I actually outright purchased a stock the day before ex-div - I'm good for dividend - but outright purchase of stock ON ex-dividend - I'm not getting the dividend? ANd then with an option- exercising an option ON ex-dividend day I'm good? Why is there the difference?

Can you give any examples? It would seem even if you go deeper in the money on the calls that you would collect a bid premium that would make it worthwhile to the exercisor to actually exercise. Then you would be OUT money if you got exercised!

x- You say that the puts have the dividend priced in? Then help me understand because I really want to get this: Look at BCS. Closed at $24.30 on 8/19/08 on day BEFORE ex-div. That same day - I could have Shorted the Sept 08 $20 Call ($3.90 Bid). Then I could have gone Long the Sept...

Ok - so I'm learning options and soaking up a lot quickly - but your explanation has left me confuzed. Probably because I don't understand all the acronyms yet. But a question: You said something about exercising the option ON the ex-dividend day in order to "capture" the dividend. Is...

And I suppose that you get high by smoking the dried skin flakes off your bed sheets after a week of use? I wonder how much arrogance one can stand in him or herself before even he or she is finally offended? But thanks for taking the time to reply! I supposed you were just born with that...

I got into OpenTick and I've downloaded the free NinjaTrader "research tool." (I think that is very good of NinjaTrader to let me have it at with the software for free - until I am ready to get into the live game - then pay for it at that time! Novel marketing idea!) OH! By the way -...

I believe I partially understand what you are saying. Even in the few days I have been papertrading - I find a couple days that are STILL WINNERS - but not on the grand scale as the 1.5 weeks previous. So I started re-evaluating based on the days I got hit more with losses that shaved away my...

I take this completely to heart and hence why I am here trying to get real live input before splashing my money around somewhere. I've been saying that my results MUST be "too good to be true," and at best - they probably are - but could still make SOME money. As for TradeStation - I found...

AWESOME! You're the kind of person I was hoping I would find here! So how about software for analyzing, charting, programming, etc? Any recommendations? THANK YOU!

Cold, I appreciate the education - perhaps you have this indwelling feeling of paying back the world for the grace you were given to experience a successful life after the "dunghill" of a hand you may have been originally dealt. Hey - even Jack Sparrows saved the day a time or two! So...