boilermaker75

The letter was put together and sent on Monday, so it reflects the Fed rate at that time. I'll be calling the guy assigned to may account to try two negotiate lower. He is back in the office next week.

I just got the letter. It is effective rate. Technically it is the upper limit of the Fed Funds Target Range plus 3.25%. So currently my effective rate is 3.5%.

Ran into another Founders KBS stout, this one espresso, when out for dinner last night. It was good so I had a second. I am getting too old to drink two of these high alcohol content beers!

Replaced my expiring covered calls with 40-strike April 14 expiration calls at $1.10 per share.

Then there was, I guess for some companies still is, dependence on russia for rocket engines. Thank goodness for Elon Musk.

Thanks, I am not familiar with Fintwit but I will look into it.

Wrote some SUBX March 18 expiration 83- and 84-strike puts.

OK, thanks, but I have known individuals who have done that.

I actually almost did the same a year ago. Our mortgage was almost paid off, we only owed about $5k. (Actually the mortgage was paid off and we took out a loan about 10 years ago so we could loan the money to our daughter to buy a condo in California. We then gifted our daughter the max each year to essentially pay off her loan.) I was going to put it all in BRK. If I had done that, I would already be up about 40%

What about BRKB? Edit: Sorry, LOL, I missed your first line. That is what I would do dump it all in BRK.

Any one who lists their name as Dr. Parik Patel, BA, CFA, ACCA Esq. (drpatel.eth) tells me all I need to know about the individual.

I wrote some BABA OTM March 18 expiration puts this morning and some BRKB March 18 expiration 325-strike puts.

When I started the discussion I had quoted the effective rate, but I am not sure if the 3.5 % refers to base or effective. I'll let you know when I get the confirmation letter. In any event, I will be calling the person assigned to my account, as Dinar has suggested, to further "improve" the rate.

Thanks @Munger_Disciple, I am going to follow Dinar's suggestion and talk with the person assigned to my account as soon as possible. I will point out the multiple other accounts at Schwab and additional margin I would be willing to take on.

I do, but he was out-of-town for two weeks so I spoke with someone else. Great suggestion. I'll come him when he is back in the office. Thanks.

Thanks Dinar. I make about 250 option trades a year. This account is low 7 figures and my margin debt is $40k. I should probably call back and argue for a lower rate? Edit: I know the rate is going up as you stated, but if I had 0.98% I would have a higher margin debt.

The only reason I was in this was to play the risk arbitrage and why I want to get out. I made some money even if I outright sold my AJRD at a slight loss because I wrote puts a few times that expired. I guess I am greedy going with the covered calls but the premiums are good!

Wrote 315-strike and 320-strike March 18 expiration puts on BRKB. Wrote 60-strike and 65-strike April 14 puts on MSGE.

I have written 40-strike covered calls on my small AJRD position that I was put to at 40 on a risk arbitrage play.

I just negotiated with Schwab and they offered me a margin rate of 3.5%. It sounds like others have been able to negotiate a better rate? They didn't give me a lower rate because I only have $40k on margin and I told them I did not know if I would be increasing that.

Those look like fun!

wrote 51-strike, March 18 expiration OXY puts for $0.56 per share.

That was an undertaking! Looking great! I loved that Firebird and wish I still had it. Eventually gave it to my brother and I think he eventually sold it. It was great back then because you could do all the work on the car. A lot of us kids would work on cars with our dads. Today that doesn't happen. I have been teaching electrical engineering since 1984. I have noticed a reduction in ability in the lab. I am thinking it is because no one grows up anymore working on cars, or building Heathkits.

wrote OXY 53-strike, March 11 expiration puts.