Replies to post #255 on Selling_Options

[trading.jeff]

Sorry for another "newb" question. I've looked at both Fidelity and OptionsXpress and saw the different levels and what each level is approved for. What did you have to do to get Level 3 approval and not another one, lower or higher?

TIA.

[zivtheziv]

$GLD -

I just checked this trade and I did it according to the math formula.

I got Iron condor so here is my trade -

Sell 18 GLD 100-129 Dec14 Iron Condors for about 8% insurance and $864 premium.

Sell $124 Calls Buy $129 Calls

Sell $105 Put - Buy $100 Put