Thank you for your reply and explanation, the spreads strategies are a bit confusing for me still, but that's because I started learning options less then a week ago, so give me another week and I'll get it. I'm super excited about learning options and the OIC website has been a great place to learn. So, I assure you I'll be re-reading your posts to fully understand your complex strategies.
I'm still holding my MTGE shares I bought (on margin) on the last SPO and will sell them before ex for a nice profit. I'm thinking, on the next SPO, instead of buying shares, I'd short Dec. puts (cash-secured) and with the premium I'd long calls, thus not using any of my money or margin. Not sure if that's the best strategy, but I think I'll make more profit that way instead of buying shares on margin and selling them before EX. Any thoughts?
Today I bought more AMTG shares for the run and will sell before EX.