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Thought I’d post this as a public service announcement
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<blockquote data-quote="Jackburton" data-source="post: 3335670" data-attributes="member: 34538"><p>Merrill Lynch didn’t have fiduciary duties during this time, they just now are under this guidelines last year.</p><p></p><p>edit: seems they just fell under fiduciary laws as of July 2017. </p><p></p><p>These brokers make commissions per trade and per contract written. Writing calls is how some investment people like to make a little more money on premiums associated with the contracts, depending on the stock. Problem is when you write covered calls, if the price of the stock shoots up beyond the strike price and the premium collected, you’re stuck selling it to the call buyer at the lower price (strike price).</p></blockquote><p></p>
[QUOTE="Jackburton, post: 3335670, member: 34538"] Merrill Lynch didn’t have fiduciary duties during this time, they just now are under this guidelines last year. edit: seems they just fell under fiduciary laws as of July 2017. These brokers make commissions per trade and per contract written. Writing calls is how some investment people like to make a little more money on premiums associated with the contracts, depending on the stock. Problem is when you write covered calls, if the price of the stock shoots up beyond the strike price and the premium collected, you’re stuck selling it to the call buyer at the lower price (strike price). [/QUOTE]
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Thought I’d post this as a public service announcement
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