tag:blogger.com,1999:blog-9191584171026068508.post3430801686353836770..comments2024-03-18T04:14:41.296-05:00Comments on An Experiment in Retirement: Apply before you leave your jobRamhttp://www.blogger.com/profile/02082860404675699556noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-9191584171026068508.post-89238340427975821482009-03-22T20:54:00.000-05:002009-03-22T20:54:00.000-05:00That was a great point to make, Ram, as it's an im...That was a great point to make, Ram, as it's an important consideration. I've just discovered your blog and have enjoyed reading it.Linda P.https://www.blogger.com/profile/03514116616513211458noreply@blogger.comtag:blogger.com,1999:blog-9191584171026068508.post-34069583791208506002009-03-20T23:07:00.000-05:002009-03-20T23:07:00.000-05:00Thanks, Linda. I am not sure as to why I was rejec...Thanks, Linda. I am not sure as to why I was rejected, and it is possible that I came across as being too conservative.<BR/><BR/>I will try again soon, but my main point was that it becomes more difficult if you state no income, no job.<BR/><BR/>RamRamhttps://www.blogger.com/profile/02082860404675699556noreply@blogger.comtag:blogger.com,1999:blog-9191584171026068508.post-16837988030085667262009-03-20T18:08:00.000-05:002009-03-20T18:08:00.000-05:00Are you sure your rejection for options-trading ap...Are you sure your rejection for options-trading approval was due to your job status? Often, when you change your trading status, you're required to state whether you're trading for speculative or other reasons. If you were cautious about your answers, not considering your intentions with covered calls to be speculative, perhaps you checked only the most conservative-appearing choices. Brokerages have become very cautious about the trading levels they award to traders, and they might not have felt that the answers you provided about your intentions were appropriate for options trades. While options trades can be used as a means to hedge investments, particularly when they're used to establish a collar (covered call, with the credit received for the call then used to purchase a protective put), brokerages sometimes treat them as if they're akin to handling an explosive. And they can be, if used unwisely. Your brokerage cannot and will not tell you the "proper" answer to upgrade your trading status, but you might just take a look at the answers you provided and see if they might have contributed to the rejection. I'm not a broker and this isn't meant as trading advice, but I have known people whose first upgrades in trading level were rejected for this reason.Linda P.https://www.blogger.com/profile/03514116616513211458noreply@blogger.com