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May 23rd, 2010 at 11:25 pm
kururi67
Regarding IRA accounts, I’d suggest that you move your IRA accounts to www.thinkorswim.com. Contact scott at thinkorswim dot com and mention that you are a PSW member. He should be able to give you a discount on commissions. Last time I heard, it’s $1.50 per contract, no per ticket fee. I.e, if you trade 1 contract, it’s 1 x $1.50. If you trade 10 contracts, it’s 10 x $1.50.
There are many nice thing about TOS (thinkorswim). For IRA, they allow most, if not all, "defined risk" trades. For example, they allow spreads. They also allow naked short puts in IRA, but you have to have enough cash to cover the full margin. The one thing they don’t allow in IRA is naked short calls.