08-27-2021, 02:57 PM
(08-27-2021, 02:32 PM)ChadR Wrote: I have an E*Trade ROTH account. I never said anything about triple leveraged ETFs, it must have been someone else. I honestly don't know if E*Trade will allow it or not since I have never looked into it. Since they don't interest me, I've never spent any time looking into if I could do it or not. E*Trade will let you do basic option trading such as covered calls and cash secured puts. The won't let you do naked calls, but if you want to be naked while selling covered calls, that is OK.I am pretty certain "house rules" have a lot to do with it and it doesn't always make complete sense.
I AM allowed to buy $500K worth of out of the money AMC calls expiring in a hour. Not allowed to go long $5K in SOXL and hold it for a year. No leveraged ETFS, long or inverse. I can't sell naked anything in my retirement accounts. My mother wouldn't let me run with scissors either and I guess that worked out.
I could move my account if it was a big deal to me. If want to gamble with small money it's no holds barred in my taxable TD Ameritrade account, and the casino is only a 15 minute drive anyway lol.