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To: LLCF who wrote (46699)	10/31/1999 3:38:00 PM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 152472

DAK, re: call/put option purchases/sales in IRA, you can definitely do this. I do this all the time at Fidelity. Level 2 is the max...no spreads or naked writing allowed. Nice for IRA since margin is not available. if this is true they'll be lots of folks wiped out in their IRA's IMO. Why would it be different than using options elsewhere? Just another tool, no? Cheers, MM

To: LLCF who wrote (46699)	10/31/1999 4:03:00 PM
From: JohnG	Read Replies (1) \| Respond to of 152472

David. Unfortunately after personal checking found Schwab, SSB, & E-trade say no buying or selling of puts & calls in IRA's allowed. This is their company rules and not govt rules. As has been pointed out, Fidelity allows this to be done. Have polled only these 4 so others may line up w/ Fidelity. JohnG

To: LLCF who wrote (46699)	10/31/1999 4:31:00 PM
From: Jill	Respond to of 152472

Fidelity lets me buy calls or puts and write covered calls in my KEOGH--Unq Frank notified me first that I could do this, and I recently enabled it and tomorrow I will finally purchase LEAPS in it

To: LLCF who wrote (46699)	10/31/1999 4:42:00 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 152472

>> I was very surprised as I've been in the business 20 years and always thought covWrite was all that was allowed. Still don't know if the guy's right or not I can testify from personal experience that the guy was right. I have an IRA at Fidelity and have bought puts, calls and LEAPS, and written covered calls in it. The only options play that is not allowed is writing puts, since that is a marginable action. Margin cannot be employed in an IRA. uf