Comments on: Conservative Account Adjustments

By: Jeff

Jeff — Sun, 10 Jan 2010 17:50:17 +0000

Jake,

Yes, IB is probably the best for Covered Calls. There is no charge at assignment. They are not the most user friendly broker in the world, but they have the best commission rate versus execution & price improvement. Watch out for canceling orders. One way to limit that is to only do Day orders and not GTC orders – that way you can start fresh the next day.

- Jeff

By: Jacob

Jacob — Sun, 10 Jan 2010 16:39:12 +0000

Jeff,

The video was very helpful, thanks. Would you recommend IB as a good broker for doing covered calls and naked put trades? Do they have a high fee for options assignment, thats usually the problem when I compare brokers.

Thanks again, Jake

By: Jeff

Jeff — Sun, 10 Jan 2010 11:31:37 +0000

Jake,

Yes, you can do almost any combination order on their trading platform called Trader Workstation or TWS. You’re in luck because I made some videos on how I use TWS to enter and manage combination trades. Look under my Video Demos and at the bottom you will see “IB TWS: Using the OptionTrader for Covered Calls”. The demo covers buy-writes since that was all I was doing for a while.

- Jeff

By: Jacob

Jacob — Sun, 10 Jan 2010 02:31:30 +0000

Jeff,

I believe you mentioned before that you used interactive brokers, do they allow you to do a complex option order such as a buy-write?

Jake

By: Options Tracker

Options Tracker — Thu, 07 Jan 2010 21:06:59 +0000

Hi Jeff,
I just wanted to see if you were interested in an options portfolio manager. The program is able to keep track of all your adjustments to spreads, collar trades, covered calls and pretty much any option strategy. It will be able to give you the true cost basis after you make an adjustment. If you are interested the program let me know, it is still in beta right now but your input would be appreciated.

The website is http://www.optionstracker.com