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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (52129)	6/13/2001 11:32:41 AM
From: Joe Waynick	Read Replies (4) \| Respond to of 94695

I had a long talk with the “Benjamin” in “Benjamin & Jerold” about their IRA accounts. You can do just about anything you want with options and equities EXCEPT the following: 1. You can’t short stock (that would involve borrowing) 2. You can’t sell naked calls (that involves margin) Otherwise, you can buy puts/calls, sell covered calls, sell naked puts (backed by 100% cash on the underlying security,) and buy/write spreads of all kinds. The key is they will not allow you to borrow or use margin. As long as the position is covered with other options and/or cash, they allow it. The IRS is perfectly okay with it. At this time, I’m only interested in naked puts and covered calls. The combination of those two strategies reduces the risk in my IRA considerably when compared to simply buying and holding or even using covered calls alone. It’s exactly what I’m looking for. If you’re interested, here’s their web address: stockoptions.com Joe