Replies to post #96 on Big Board Toolbox

[boca_bobby]

Not sure how it works with ST. Also you need to know this about TradeKing:

It says $4.95 for Trades & $0.65 for options.

That's true unless you buy a stock under $2. Then they charge you $4.95 plus $0.01 per share!!!!!!

I am using them strickly for Big Board Trades! And at this point only option plays! Remember to get Level 3 authorizations for the options. This will allow you to buy Calls, Puts and Spreads. You will also be able to write covered calls which come in handy also and I plan on using this in the near future also.

A covered call is when you buy at least 100 shares of an optional stock. Let's say you have 100 shares of a stock that is currently trading at $10. You notice that there is about 7 days before the current Call contracts will expire.

You have the right to "write" (sell) one Call contract. Maybe you write it for the $15 strike price because you just know it will never make it to the $15 PPS level. Then the contract you sold expires worthless and you keep the premium from the poor shmuck that bought it! LOL

I was always told you pay for your ignorance. LOL

Boca_Bobby