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To: mitch-c who wrote (38996)	10/31/2000 11:03:15 AM
From: Tito L. Nisperos Jr.	Read Replies (2) \| Respond to of 70976

Mitch-c, I trade Options mostly inside IRAs, both Conventional and Roth, belonging to my wife, my children and mine. Inside IRAs one is allowed to Buy to Open then Sell to Close Calls as well as Puts in both Regular options and Leaps. Writing a Covered Call is OK but writing a Put or Naked Option is not allowed. Simple Spreads are allowed too. You can see which Option capabilities are allowed and which are not when you apply for Options trading.

To: mitch-c who wrote (38996)	10/31/2000 11:26:23 AM
From: Henry D	Read Replies (1) \| Respond to of 70976

Mitch, check out Benjamin and Jerolds brokerage, they let you use deriviatives in your IRA.

To: mitch-c who wrote (38996)	10/31/2000 11:48:57 AM
From: willcousa	Read Replies (1) \| Respond to of 70976

Most firms allow the writing of covered calls and the purchase of protective puts in IRA's. I have had IRA's with 4 firms - Pru, SSB, Schwab & Etrade. All permit this. The IRA statute is vague on this subject and the above is a sort of consensus agreement among the firms as to what would be permissible. I personally believe that it would do no violence to the statute if we were allowed to own long leaps as well but know of no broker who would permit it. Hopefully, we can get some loosening of the rules if the republicans get into power.