Re: [TheOptionClub.com] My Kid's trading account

 

Najarians TradeMonster

-----Original message-----

From: Joey Huckabee <joey.huckabee@gmail.com>
To: OptionClub@yahoogroups.com
Sent: Sat, Jul 31, 2010 00:58:48 GMT+00:00
Subject: [TheOptionClub.com] My Kid's trading account

 

I just opened up TOS and was looking at some trades that I was
thinking of placing for my minor's account and was surprised by the
"new regulations" that TOS has rolled out.
Remember Children can not have margin accounts so this is treated like
an IRA.... and BTW I have been reading the POSTs about this I was just
surprised that I was affected by it as well.

Here is an Example:

Vertical BUY +10 IBM AUG 10 115 PUT
SELL -10 IBM AUG 10 110 PUT
OLD BP EFFECT $80.00
NEW BP EFFECT $110,050.00

THIS IS A DEBT SPREAD!!!!!! and forget about a spread using calls...
it is not allowed.

I am not sure what I am going to do... move brokers, organize as a
business... any thoughts?

Thanks,

Joey

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