Thursday, June 17, 2010

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

 

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@hotmail.com>
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

__._,_.___
Recent Activity:
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
MARKETPLACE

Stay on top of your group activity without leaving the page you're on - Get the Yahoo! Toolbar now.

Get great advice about dogs and cats. Visit the Dog & Cat Answers Center.

Get real-time World Cup coverage on the Yahoo! Toolbar. Download now to win a signed team jersey!

.

__,_._,___
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)