Ready to plan for your future retirement by trading futures or selling naked calls in your IRA? If so, you’ll need to start by upgrading your trading level to IRA The Works–our highest trading level for an IRA. By default, our Basic trading level is set to all IRA accounts. If you haven’t upgraded to IRA The Works, then you’ll need to do that first. 


Upgrading to IRA The Works will allow you to sell naked calls in your IRA, as well as allow* you to enable futures trading (futures, micro-futures, and the Smalls). However, if you already have IRA The Works, then you’re halfway there! All you need to do is enable futures. The illustrated instructions below go over the entire process.


Not sure which IRA trading level you have? You can check by looking at your investor profile, or click here.

*To learn more about account IRA account minimums for futures, please click here.


Eligibility for IRA The Works is dependent upon your suitability (Trading Objective, Trading Knowledge, and Financial Standing). Your suitability is determined by your investor profile. 


Sections


Requirements for Naked Short Calls in an IRA

  • You must be eligible* for IRA The Works.
  • IRA account must have a start of day net liq of at least $25,000.
  • The margin requirement for short calls is 100%. For example, a short $20 call requires $2,000 in options buying power.
  • No short calls in volatility products.
  • Stocks under $10 are not eligible.
  • Selling covered calls (with a long stock position) is available in all IRA account levels. 


How do I enable futures trading in an IRA?

To enable futures trading in your IRA, you'll need our highest IRA trading level, IRA The Works. Below are step-by-step instructions on how to upgrade your IRA trading level as well as how to enable futures trading. However, if you already have IRA The Works, then please proceed to the Instructions to Enable Futures (IRA already has IRA The Works) section below.


Instructions to Enable IRA The Works & Futures Trading

Start by logging in to your account at tastyworks.com, or click here.



Instructions to Enable Futures (IRA already has IRA The Works)

Start by logging in to your account at tastyworks.com, or click here.