I have ask this question before but was confused by the answer.My broker allows me to Buy puts to close, but not write to open puts.I can also Sell puts to close but not buy to open. So how do I own a put so can I buy to close if I can't write to open? I guess my question is why everything says to close and nothing says to open.W4Fool
It sounds like there may be an error with your broker. With the options, you should be able to Buy To Open which would give you the latter of Buy To Close. You should also be able to Sell To Open (covered calls) which would give you the further option of Buying To Close.I would call WF and see if there is a glitch in their suthorized platform for you.Phil
Pardon me, but once you Buy to Open, you would Sell To Close (not Buy To CLose). I was typing ahead of myself.
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