UK option writing

[kensfishbar1]

Which broker in U.K. allow investor to write covered call option or cash covered put option? Most of the high street bank's stockbroker does not seem to offer this kind of services.

 

[pelzar]

odl securities will allow you to do this! Forex (FX), CFD, Futures and Equities & Options Trading with ODL Securities

 

[kensfishbar1]

Thanks.

Besides normal commission, is it common practice to charge a 0.75% annual fee for the value of the shares held for writing covered call?

 

[grantx]

Ken,

Never heard of this. What if you lodged cash in lieu of shares as collateral? Would they then charge you interest on this? The shares held are for their benefit as much as yours. They may even lend them out for all we know.

I wouldn't entertain it, mate.

Grant.

 

[A Dashing Blade]

Thanks.

Besides normal commission, is it common practice to charge a 0.75% annual fee for the value of the shares held for writing covered call?

Wtf? Never heard of that one before.

 

[grantx]

Ken,

Who does this (I think I can guess)? This should be known by everybody.

Grant.

 

[kensfishbar1]

Hi,

Can anyone suggest any other broker who will allow me to write covered call and only charge normal commission?

thanks.

 

[grantx]

ODL Securities' Additional Account Charges:

"Utilisation Fee
A fee of 0.75% per annum (calculated daily, debited monthly) will be charged on the utilised portion of all stocks lodged as collateral for margin purposes".

Grant.

 

[loui10]

I lost my life savings (net worth) with ODL securities and Frank Freeman on an advisory basis in 5 months. I invested £71,500 and was left with just £900. I was commissioned over £32,400.

The case has now gone to the Ombudsman for arbitration.

If you want to know more email on: [email protected]