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Non-Tech : Waterhouse Securities -- Ignore unavailable to you. Want to Upgrade?

To: Joe Fang who wrote (465)	4/19/1998 9:27:00 AM
From: Thean	Respond to of 2076

Joe, Waterhouse IRA, traditional or Roth, cannot have a margin account. The only type of option allowed is level 1 option (Waterhouse) or covered call writing. On the regular account however, they also said they are not supposed to tell clients which levels the clients will be authorized at until someone examined the account taking into considerations factors probably like liquidity, years with account, trading pattern, etc. Therefore, one can sign up to level 5 option but he/she may not be authorized for that level. It ony takes a week or so to find out after sending in the paperwork.