best broker for covered calls and naked puts

Profitsandloss · Mar 12, 2011

hi, i was looking for a broker to write covered calls and sell naked puts, some people have been recommending options xpress to me however their commissions seem to be on the high side and i dont think they offer naked puts. can someone give me the best broker for this strategy.

Wayne Gibbous · Mar 12, 2011

http://individuals.interactivebrokers.com/en/main.php

Profitsandloss · Mar 13, 2011

IB require a minimum of $10,000, so im not going to go with them. is there any other good brokers.

joeactuary · Mar 13, 2011

Nice first post. Any broker is fine to lose all of your money. On second thought, TOS may be one to go with as you'll get a free monkey; though i would look into tradeking and see if they still offer the Elvis sunglasses.

joeactuary · Mar 13, 2011

Nice first post. Any broker is fine to lose all of your money. On second thought, TOS may be one to go with as you'll get a free monkey; though i would look into tradeking and see if they still offer the Elvis sunglasses.

cstfx · Mar 13, 2011

Quote from Profitsandloss:

IB require a minimum of $10,000, so im not going to go with them. is there any other good brokers.

With less than 10k, what "covered calls" would you be doing with such little equity?

stinkyfelix · Mar 13, 2011

Quote from cstfx:

With less than 10k, what "covered calls" would you be doing with such little equity?

I guess he could buy 100 shares of C and write 1 covered call.

It's not much, but you have to start somewhere...

turkeyneck · Mar 15, 2011

Quote from stinkyfelix:

I guess he could buy 100 shares of C and write 1 covered call. It's not much, but you have to start somewhere...

To make $5 on the call, commission not included?

spindr0 · Mar 15, 2011

Quote from cstfx:

With less than 10k, what "covered calls" would you be doing with such little equity?

There are lots of optionable $5 to $10 stocks available. He can make 8-10 pct a month and double his money in no time at all ( I've read that on lots of web sites!!! )

:eek:

Vinny1 · Mar 15, 2011

MB Trading charges 95 cents per option contract...

http://mbtrading.com/commissions.aspx?page=Options