Weave,
I think you got it correct. I went into Etrade's investor center for other reasons as you know and they laid it out pretty much as you stated. I agree that you shouldn't trade the F's on margin or more than the cash you have available.
For everyone else, I am going to Etrade to trade the F's. I have traded the F's in Fidelity and for some reason that I have yet to figure out, they shut my trading down today. I had no access to intraday funds and no buying power. I talked to 5 people and no one can explain to me what they did and on top of that I got three different stories from them. They told me to wait until everything settles from my trades and they will look at my account and let me know what is going on. Based on my conversation with these jokers, I won't be able to trade until next week. I will be transfering my day trading account into Etrade based on a discussion that I had with you and some others. I am waiting to see what is going on with my CDIV/EIGH/GRNO as I am not sure that I can do anything in that one account right now. I have a couple of others, but I would suggest not using Fidelity for daytrading.
PO'd doesn't even begin to describe how I am feeling right now.
