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In a message dated 98-06-23 15:48:26 EDT, blackdiamond@xxxxxxxxxxxx writes:
<< Primarily I am looking for a firm that
will allow me to sell short the Diamonds and Spyders. >>
George:
The problem you will have in an IRA is that you can only buy options because
the security you trade must be paid in full. The price and exposure of buying
an option is a known figure. When you sell an option, the risk is infinity
and altho you receive a set amount of money, how would they collect if a
margin call were needed. In addition the IRS may not consider the money to
cover a margin call as "eligible" for an IRA contribution. Too many problems.
Lynn
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