Series 56 Exam Not Needed to Buy $CROX

[guest post by TS]

My brother in blogging crime wondered whether we needed to take this Series 56 Exam everyone was talking about: "can't enter orders after september if you don't take the series 56 exam?"

Relax, bro', methinks this is not for the retail investor:

Specifically, CBOE Rule 3.6A provides that individual Trading Permit Holders and individual associated persons that are engaged or to be engaged in the securities business of a Trading Permit Holder or TPH organization shall be registered with the Exchange in the category of registration appropriate to the function to be performed as prescribed by the Exchange."

"Trading Permit Holders and associated persons", in my estimation (correct me if I'm wrong) would be trading houses constituted specifically for the purpose of making money off of house and/or client's assets, in a professional securities organization.  As retail investors generally have an unrelated day job, this would not impact them.  Many of us bloggers (though, certainly not all), reside in that camp.

So, go out and buy more $CROX equities, calls, etc.  :-)

..TS.

But we wish everyone luck that must take it..... MM