Re: [TheOptionClub.com] Options in IRA's

 

RFH,

 

Since my main traiding platform is TOS, I only use TD's web interface to trade. In any case, AFAIK trading is handled differently. That goes for comissions, margin calculations and everything else. That's why TD requires stupid forms to be submited prior to trading, yet TOS just allows one to move forward.

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From: RobertH <robhansen5252@hotmail.com>
To: OptionClub@yahoogroups.com
Sent: Sat, June 19, 2010 10:59:22 AM
Subject: Re: [TheOptionClub.com] Options in IRA's

 

TDameritrade is using the TOS options trading platform which should free up your other hand. I haven't downloaded it to my computer yet, as I am afraid it will conflict with my TOS desktop software. I don't think it has all of the functionality of the TOS platform, but some of you out there may be using it and I would appreciate your feedback.

RFH

--- In OptionClub@yahoogroups.com, Sherlock <behya@...> wrote:
>
> I have IRAs with both TOS & TD Ameritrade. TOS simply allows any risk defined trade. With  TD Ameritrade you'd have to request for options trading. They have several levels, I'm not sure what one can do for each level, but I apply for leve II & III online and within a week was approved. In any case if you want to trade options you shouldn't use TD Ameritrade, it's just like playing basketball with only one hand.
>
>
>
>
> ________________________________
> From: RobertH <robhansen5252@...>
> To: OptionClub@yahoogroups.com
> Sent: Wed, June 16, 2010 6:43:43 PM
> Subject: [TheOptionClub.com] Options in IRA's
>
>  
> This was probably discussed in depth a while back, but I tried to place a simple bull call spread in my wife's IRA account with TDAmeritrade. The trade was rejected because margin is not allowed on IRA accounts. Spread Option trading requires margin as it is Level III of option trading.
>
> I have my IRA account with BrokersXpress which is somehow associated with OptionsXpress. (Not sure of the linkage, but I also have a personal account at OptionsXpress and I can access both accounts from either account on the web platform. In fact the platforms are identical). Anyway, I have many different option strategies going on in my IRA including condors, diagonals etc.
>
> Question: Does TOS allow spread trading in their IRA accounts, or have they possibly disallowed them after TDAmeritrade bought them out?
>
> Thanks,
> RFH
>

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