SPX Credit Spread Trader

Quote from yip1997:

Depending on your broker, TOS and IB will allow you to have short naked options because they are covered by cash even in an IRA account.
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In an IRA account (traditional & ROTH) only "cash secured naked puts" allowed. Short naked calls in an IRA account are not allowed by any brokerage firm, AFAIK.
 
Quote from Nanook:

In an IRA account (traditional & ROTH) only "cash secured naked puts" allowed. Short naked calls in an IRA account are not allowed by any brokerage firm, AFAIK.
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It's not up to the broker. Naked shorts (stock or calls) are not allowed in an IRA. SEC rule.

Some brokers allow cash secured naked puts, others don't. But no leeway where calls are concerned.

Mark
 
Quote from dagnyt:

Interactive Brokers is going public.

Anyone going to be interested in these shares?

Mark
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Maybe. Depends upon whether IB customers get a decent shot at the initial allocation, along with how much hype the event receives prior to IPO.
 
A broker is trying to sell me on using ACE Investment Strategists LLC/Yu/De Chang. Their program is to do strangles on the S&P500 index future. Among the many fees, I’m being told the exchange has a $55.00 per contract charge. This doesn’t sound right to me. But since I don’t anything about futures is this accurate? If it is accurate why is it so much higher than what option commissions are? Anyone heard of ACE?

Thanks
 
I dont buy that, must be a miscommunication or something. I think CME fees for a leased seat are $1.00 RT or so and brokers usually charte $4.00 to $7.00 on average so $55 is off the wall.

Yu Change is a big marketer of his firm and funds, or at least he hires a lot of people to do so at those Trader's Expos. If the fund is so great it makes me wonder why he has to push so hard to raise retail money.

naked strangles are even too risky for me. Ask for proven track records, guarantees if any and a breakdown of fees.

For those of you who think I fell off the face of the off, I legged into an NDX IRON for APRIL a few weeks back with 1875/1900 Calls and 1657/1700 Puts, looking to run to expiration worthless.

Quote from jbesr1230:

A broker is trying to sell me on using ACE Investment Strategists LLC/Yu/De Chang. Their program is to do strangles on the S&P500 index future. Among the many fees, I’m being told the exchange has a $55.00 per contract charge. This doesn’t sound right to me. But since I don’t anything about futures is this accurate? If it is accurate why is it so much higher than what option commissions are? Anyone heard of ACE?

Thanks
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Thanks Coach, (RE: ACE Investment Strategists LLC/Yu/De Chang)

I’m asking because I’m looking for good investment opportunities because I have :

IMMEDIATE INHERITANCE PAYMENT -- inheritance payment is US7.5 (Seven million Five hundred thousand united states dollars) the Minister of finance including the board of directors of United Nations here in London, England to see to the release of long term debt owed to many foreigners around the globe who have been denied of their payments.

Gee, and I always thought the United Nations was headquartered in NY. Never was much good at geography or world politics.

Anyone who wants 1/2 the amount I receive, just send me ¼ of the Seven million Five hundred thousand united states dollars now.:D
 
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