I've been trading for two months now. Net-net I've made some money, but mostly I'm on a steep learning curve about the mechanics, mathematics, psychology and pitfalls of options trading. My lesson this month, among others, is that brokers make mistakes. My broker has managed to do the following: -Reverse the selling and buying prices on the statements for the closing of a spread position producing an apparent loss which was in fact a profit. -Duplicate a closing order creating a call spread, but obviously in the opposite direction -Duplicate a closing order creating a naked short put with a whopping cash credit to my account and a margin exposure WAY in excess of my limits I have not mentioned the broker's name because this is not about slagging a particular broker, just to observe that keeping tabs on every transaction is important. The broker quickly fixed every problem when I pointed them out. I now keep a book and literally paste in the statements from each opening and closing transaction together on the same page so I can see visually that it was done right. I'm sure with more experience I will be less obsessive about this, but for other newbies I can recommend that checking your broker's work is important.