Amplified Income newsletter by MIKE BURNICK,Has anyone subscribed to this? What does he mean by ”upgrading your brokerage account”? Is it different that trading options?
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From his marketing materials, it sounds like he’s recommending equity positions but then “amplifying” them by also buying call options on the same stock. Just another way to leverage an investment, I guess, he may use other strategies as well — I have never written in detail about this letter.
He just suggests that you call your broker and request a level 1 option trading approval.
I have been trying for 3 days to find out what to say to my broker about upgrading my brokerage account. Mike Burnick of Amplified Income promised to tell us what to say in order to upgrade our brokerage account. What an empty promise.
I assume he’s just talking about applying for options trading permission, which almost any broker can help you with. There are a few different levels, depending on whether you want to do just the simplest stuff (sell covered calls, buy calls or puts) or do more complicated or cash-backed (and often riskier) strategies that require margin. The broker essentially will just have to check with you to see if you say you are experienced enough to understand the risks, and to make a passing effort to check that option trading is compatible with your stated investing risk tolerance, investable assets, or goals.
Has anyone researched Mike Burnick’s new “X-Shares” strategy?