options account with few restrictions..

Discussion in 'Options' started by GGSAE, Nov 13, 2006.

  1. GGSAE


    Hey folks i've been trading stocks for a few years and would like to open up an options account on the side.

    I'm looking at doing a number of things, but mostly selling straddles, call and put spreads and combinations. What would I be looking at for a firm that offers this as well as margin requirements. Thanks!
  2. TOS
  3. GGSAE


    Alright, i'll check them out. Thanks
  4. jllm03


    Optionsxpress has been good to me.

    I had an old account with Ameritrade a couple years ago, but was not the greatest. Don't know how they are now since they merged.
  5. Click the "Brokers" tab at the top of this page and check out the number of reviews for each broker. You'll find IB by far has the greatest number of reviews. That kinda tells you which broker the Elite Trader community tends to use.

    One note, if you are talking about an IRA account IB may not be the best because I don't think they support spreads in an IRA. Actually, I have not seen anything at the IB web site that is clear about their options trading capability in an IRA.

  6. MTE


    Thinkorswim is definitely the one to check out as it has no trading levels so once you're approved for options trading you can trade any strategy you want, provided you can meet the margin requirements.
  7. GGSAE


    Just found out i can't trade with them because i live in Canada.
  8. Is there any option broker that will allow you to short option (spreads, etc.) in an IRA?
  9. Yes, OptionsXpress, and Thinkorswim to name two. There are probably others.

  10. TOS allows defined risk short positions.
    #10     Nov 22, 2006