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Dear Alex,
I finally got through to "one in the know" where I trade. My account
is so far from margin call that they say I can add 20 more...even
with just the $100,000 margin I started with. I am well protected by
the maintainance provisions...which frees up more entries.
My return on margin I am using is more than 5% MONTHLY...a response
to a question that was asked of me.
I may pull in my horns and not go hog wild...[Yes Ira, why pursue
potential disaster] but this will definitely be a piece of my ongoing
equity strategies done prudently. I was getting ready to sell two
naked calls, and had to decline since the run-up made them
unattractive just now.
BTW, the Option Margin calculater download was just a dummy...and you
really need real time data to have it be useful...from my perspective.
Thanks,
John
------------------ Reply Separator --------------------
Originally From: "Jacobson, Alex" <AJacobson@xxxxxxxxxxxxxx>
Subject: RE: [RT] Options Accoun Margin Anomaly
Date: 01/06/2003 12:40pm
Regrettably there is no SPAN system in equity products there way
there is in
futures. The firm can choose to apply the proceeds after the margin
hit,
but not a simultaneous activity. Remember that margins are
established, in
equities, as exchange minimums .... firms can do anything they want
above
that level.
-----Original Message-----
From: ira [mailto:mr.ira@xxxxxxxxxxxxx]
Sent: Sunday, January 05, 2003 8:25 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Options Accoun Margin Anomaly
They do keep tabs on margin for options sales. They use a SPAN
system, I
believe that is what it is called. Since 1987 they have been careful
about
watching margins, especially on short puts.
----- Original Message -----
From: "John Cappello" <jvc689@xxxxxxx>
To: <Realtraders@xxxxxxxxxxxxxxx>
Cc: <MedianLine@xxxxxxxxxxxxxxxx>
Sent: Sunday, January 05, 2003 4:48 PM
Subject: [RT] Options Accoun Margin Anomaly
>
> Is it me or the system...one does business with a firm. If you buy
or
> sell a stock on margin, they keep a running tab on the margin used.
> At the same time, they do not keep tabs on margin used by options
> sales...and this is not just one firm that I speak about.
>
> Any rationale that I am missing?
>
> John
>
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