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Author: w4fool Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 267051  
Subject: Put options Date: 10/1/2012 2:20 PM
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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
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Author: philippalmer Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 259383 of 267051
Subject: Re: Put options Date: 10/1/2012 2:35 PM
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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

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Author: philippalmer Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 259384 of 267051
Subject: Re: Put options Date: 10/1/2012 2:37 PM
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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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