[Sniper]

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you can buy calls, sell covered calls, and buy puts in IRAs. If you fall under the guadlines as an informed trader with experience. Ameritrade, scottrade, and fidelity wont let you sell uncovered calls or sell puts in IRAs because they aren't allowed margin rights.

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The first statement isn't true for ALL brokers... you need to check with your broker whether they allow those types of options transactions in IRAs.

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He's right. The law behind the policy is you can't perform any transactions that can potentially put your IRA below zero. I believe Scottrade allows you to write covered calls but I don't think they allow you to buy puts. Never understood the reason why.

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Many brokers categorize options trading at different levels, as a protection mechanism for people to protect them from themselves... and minimize the risk of people suing the broker for allowing them to make trades they don't understand.

Technically, retirement accounts are supposed to be conservative accounts to save for retirement.