1 Canadian Dollar equals
0.73 US Dollar
I save my hard earned income from my 9-5 job to invest in stocks. In order for me to trade American stocks, I need to convert my Canadian dollars to US dollar. I have done so in the past where it was on par and I've made money on the exchange if I were to switch back to Canadian dollars now. The exchange sucks these days. I do not want to lose out on foreign exchange fee, it's like buying American stocks for a premium.
How to make USD dollars?
I sell USD option premiums using my margin account. When I sell a naked CALL or naked PUT option, I receive $USD in my cash balance on the day of my trade.
Of course, there are many different options strategies to lower your margin use through credit spreads. I am usually an option seller to collect premiums from the securities I write.
I sell USD option premiums using my margin account. When I sell a naked CALL or naked PUT option, I receive $USD in my cash balance on the day of my trade.
Short Naked CALL/PUT
Margin | |
Initial | 100%* option market value + maximum (((30%* (underlying market value) - out of the money amount), 10%* strike price, $250* number of contracts). Short sale proceeds are applied to cash. 30% above is 15% for broad based index options. |
Maintenance | Same as Initial. |
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