I was promised that it would, but alas, I tried to do it today, and it won't. I have been waiting for this for a long time, and I must share my dissapointment about this, however I will attempt to re-confirm this tomorrow.
It will allow you to do spreads and straddles, but you MUST do both legs of the spread/straddle at the same time. In other words, you can't leg into these transactions, at least not through ATW, without some rep help for a naked side. That means a phone call, a wait, and higher commissions. It also means you will probably miss your price targets while you attempt to go through all that....
I will allow you to short stock without a rep, but FOX does that now.
If this is the best I see coming from the powerhouse called Fidelity, there are going to continue to be some issues with those of are both Active and Gold Circle traders.
Fidelity needs to decide what level of trader/investor they want to cater to. Personally, I'd like more from them, and I know they are very capable of giving it. They are very conservative, though and selling puts to open does not qualify as a trade they want to allow from the web.
Beats me as to why....
SJ |
