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To: Donald F. Figer who wrote (28019)	8/29/1999 1:17:00 PM
From: richard surckla	Respond to of 93625

Re: IRA and options... wwfn.com >>> [ Follow Ups ] [ Post Followup ] [ INVEST - Broker Discussion Forum ] [ FAQ ] Posted by Morgan Thompson on April 08, 1998 at 18:29:37: In Reply to: Any discount brokers allow call options in traditional IRA? posted by Lynn Taggart on February 24, 1998 at 06:44:16: : Brown & Company allows for trading of equity and index options (calls & puts) in traditional IRA accounts. Most discount firms probably do allow option trading in IRA's, however in order to do so they must have a IRA prototype, which includes options trading, that has been approved by the IRS. You need to be aware that since an IRA is a cash account you can only buy options, write covered calls, and write cash covered puts (assuming the firm allows it). Naked short option postitions are only allowed in margin accounts by law, and thus are a prohibitted transaction in any IRA account. Brown & Company is great and, if you can meet their qualifications, would be great for your options trading. They require 5 years investment experience and a minimum of $5000 to open an IRA. give them a call at 1-800-822-2021 for more info<<<

To: Donald F. Figer who wrote (28019)	8/29/1999 2:24:00 PM
From: pompsander	Read Replies (1) \| Respond to of 93625

regarding options in IRAs...I guess I started this discussion, so I should note that my self-directed IRAs are at Fidelity. They allow covered calls and LEAPS at least.

To: Donald F. Figer who wrote (28019)	8/30/1999 9:42:00 AM
From: TigerPaw	Read Replies (1) \| Respond to of 93625

OT Smith Barney ... options trading within IRAs. It depends upon the account. There is a limit to the amount of money you can place into an IRA per year. That means any option trade that doesn't pan out will involve a lot of margin and there would be nasty penalties if a margin call forced a sale. Therefore you must be able to back up the IRA with other account assets - In other words you need other non-IRA accounts with enough assets to cover any eventuality within the IRA to get permission. TP