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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: gambler who wrote (33688)	10/10/1998 12:31:00 PM
From: Knighty Tin	Respond to of 132070

Gambler, welcome to Heaven. Don't mind the guys with pitchforks and the fires that are raging. <G> I know of two brokerage IRAs that allow you to buy options. Fidelity and Brown and Co. I have tried both. Fidelity is just too expensive for an option player. Brown is just right. Their stock commissions are incredibly cheap, but their option commissions are just cheap. <G> Brown allows you to put up to 25% of IRA cash in long options, which is more than enough for a 90/10 type like me. And, of course, they allow covered call writing, something I rarely do in my non-IRA accounts. They do not allow short options, no matter how you collaterize them, or spreads, due to the fact that they require margin, de jure if not de facto, and you can't margin IRAs. MB