Can you recommend a broker that allows Call/Put Option Trading in an IRA Rollover account? Ameritrade does not allow them. (April 7, 2001)
Most brokerages do not allow you to buy and sell put and call options except in a few circumstances. However, trading options in IRA accounts is legal as long as the risk can be quantified. Thus, you can buy long calls, buy long puts, create spreads, and sell covered calls. It is the broker's choice to allow you to do any of these. Nearly all brokerages allow you to sell calls on your stock holdings, i.e., establishing covered call positions. That is where most draw the line. We know that Benjamin & Jerold allow you to do all of the above. The number is 1-800-446-5112. Tell them that you heard about them from Investment House.
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