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BIRD FLU ALERT:
It appears bad times for the meat industry are far from over. According to media reports, another turkey-producing state — Minnesota — reported confirmed cases of bird flu infection. The U.S. Department of Agriculture (USDA) confirmed seven cases of turkeys infected with the lethal strain of avian flu in Mar 2015 in Minnesota.
Might be yet another SAFM opportunity?
The higher level is for Margin accounts:
Tier-3 Advanced:
• Covered call writing
• Purchase of calls and puts
• Trading qualified spreads
• Uncovered call and put writingIf you go on their site and search for “tier-2” the 1st result is the margin/options upgrade form. On that form, section 6, describes the levels.
An IRA can be given “Tier 2 – Standard Margin” but of course you are limited to cash secured, no margin loan is possible.You can only sell cash secured puts (no naked puts/calls) in any IRA. The rational is that can only contribute a fixed amount and if you have a margin call, you may not be able to add money to meet it.
Randy Randall
Yes, you can sell cash secured puts but not naked calls. The level of trading is referred to as Tier-2 standard margin.
Create spreads
Purchase options
Write covered puts
Write covered calls
Write cash-secured putsTDA offers web based trading, TradeArchitect, and ThinkOrSwim platforms.
I sold puts on SO today, with the intention of doing the same thing if assigned. My guess is that I will be able to close it early, but good to have the back up plan.
Amy
Closed my $69.5 sold puts for .25
Sold them for .83, so it’s again a nice profit in a short amount of time {April 8-April 16}. Not worth waiting the full month. Volatile stock that could get another bird flu scare between now and May 15th!
Amy
BTC SAFM APRIL STRIKE $75 @ .05.
Just in case:) I already have the May $69.5 strike.
Amy
I entered the following trade today in AAPL….
BTO May 15th $100 puts
STO May 1st $115 putsNet credit was $0.57 for a 3.8% return for 18 days. Having the long leg expiration 2 weeks after the short leg will allow me flexibility in the event of a sharper than expected fall in the stock price after earnings. In the event the stock does not fall to or below $115, I will be able to sell additional puts against the long leg.
Tom
Denis, I agree with you, and have been scared of this market for a few months. However, each trade is about a different stock with a different chart, and there is no one better than Teddi at finding them. I have done well with selling calls also. We just need to be careful, which is always true. We are overdue for a 10% correction, but some stock have already had them.
It will depend on earnings I think, which may be why the volume has been so low lately.Just my 2 cents.
Amy