Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (9188)	10/27/2001 8:14:26 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 19219

You need to check taht again. Covered CALLS & Protective Puts are legal in a IRA , < naked calls or puts are not legal in a IRA account. It's up to the broker if they do let you sell covered calls or buy protective puts, But it's not up to them when it comes to Naked calls and puts in an IRA and if they do they can get in a lot of trouble. For that reason many brokers won't do it at all as you may sell the stock and the computer not know you have puts , so you wind up with naked puts in an IRA , if the IRS catches on to it you can count on a full audit at the least. Worse yet you could wind up with naked calls sold & the IRS could hang them from the closest tree. On top of that you could even sue the broker if you sold the stock and then the calls sold ( tath became naked ) lost money. ( in a IRA ) Jim