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Post by exabi on Aug 3, 2010 8:22:27 GMT -5
One other distinction - Stocks/ETFs settle in 3 days, options settle in 1 day
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Post by cosmic on Aug 3, 2010 8:26:26 GMT -5
True, though you can't trade long options in the IRA, I do the covered calls though. So I bet that settles in a day - I've never honestly checked!
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Post by theMIST on Aug 3, 2010 8:31:44 GMT -5
Thanks guys. You explained it perfectly. I'm going to forward this info to my broker so they'll know what's going on. LOL
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Post by exabi on Aug 3, 2010 8:34:35 GMT -5
You can trade long options depending on you approval level - I think mine is level 2
Purchase of Calls/Puts (equity and index)
Purchase of Straddles/Combinations (equity and index)
This is with a Fidelity IRA account.
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Post by cosmic on Aug 3, 2010 8:38:41 GMT -5
Wow! Wells doesn't allow it so far as I understand.
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