WRITING TRADED OPTIONS for income

"When you already hold an open position in VOD (say) it is more probable that your next trade will be to close the position. That is why ask for a quote of the spread before I give my account details"

I hadn't thought of that specifically, but makes good sense. I'd rather deal with an exchange traded market than trade with a company that has a book to balance.

Remember RobinT saying at the LIFFE meeting that he traded with a SpreadBet company and hedged in the market. Net result was that profits (SB generated) were tax free, hedging losses (Market Generated) were tax deductable. Tax man swallowed it, apparently.

Food for thought maybe.