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In a message dated 4/26/98 6:55:45 PM Eastern Daylight Time,
Proffittak@xxxxxxx writes:
> It is illegal to do even what fidelity allows
>
> the IRS publication only allows selling covered calls
> if you do more it is TAXABLE INCOME THAT YEAR!!!!!
If you are referring to options in an IRA, many strategies are now
legal including Buy/writes (long stocks and short calls); all spreads in index
and stock options; long stock options; short equity put options (with 100%
collateral). Benjamin & Jerold at 800-446-5112 can set up an IRA for option
trading (no affiliation)
Good luck and good
trading,
Ray Raffurty
P.S. You should know that ALL government publications (especially the IRS)
are 1-7 YEARS out of date including the instructions that come with your tax
forms!
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