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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: Douglas Webb who wrote (6601)1/28/1998 5:45:00 PM
From: Herm  Read Replies (1) of 14162
 
As a sidenote to the stock recovery suggestion to Dave for his IRA account only. A reader (ROB Y.) emailed me with a good point! I'm not quite sure the correct answer for self-directed IRAs and trading options other than covered calls. They may not allow option spreads.

Rob wrote;

>"Recently (Post 6591) you had suggested to Dave Triplett about a
>situation in which he purchased IOM in an IRA and it dropped in >price.ÿ He then asked for possibilities concerning recovery. You, as >well as Doug, developed a strategy for him in which he could salvage
>his position.ÿ Now, if done outside of an IRA, I could understand >this.ÿHowever, my only question is the following."ÿ
>
>"Recently I had the opportunity to change employers and thus >investigated rolling over my past 401K contributions into a self->directed IRA.ÿ I inquired as to what option strategies I could >pursue.ÿ Across the board the answer was covered calls, in which I >could write (and purchase back) calls on stock I would own."

Thanks for pointing that information out Rob. You may be right about not being able to do the spreads. Can anyone ID a brokerage house for IRA stock equity options tradingÿ?

We were trying to help! But, the recovery strategy is still a real $ killer for anything outside of IRAs accounts.
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