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Thanks, I know I shouldn't be playing with options when I don't know these basic stuff. But I'm learning.
Also you can sell to open when you're initiating a naked position or a variety of spreads. (If you're approved for it, if you're not then you'll get an error msg of some type.)For example I like to sell naked puts on stocks I wouldn't mind owning at a lower price. ps the biggest mistake you can make is not taking losses when you've made a mistake IMO. Taking too many 100% losses will really cramp your bottom line.