Do any brokers allow selling US options in a SMSF?

[Leonwij]

Hello,
Just wondering if anyone knows of a broker who allows selling US index options in a SMSF account (corporate trustee)? I was setting up an account with Interactive Brokers but then found out you can only buy options, not sell them if the account is set up for a SMSF. I mainly trade iron condors and am located in Australia.
Thanks,

 

[dreads]

Hi Leonwij,
Did you ever find out if this is possible?
Thanks

 

[Leonwij]

Yes - if you want to do any selling of options apart from selling covered calls in the US - only tradestation and lightspeed currently allow it from australian SMSF. Other brokers used to, but don't currently allow it.
This will mean you are applying for a margin account. Although depending on what you are trading it would be worth applying for a portfolio margin account rather than a reg t margin account.
With a portfolio margin account, trades like iron condors where there is risk on both sides of the market (but technically only either your puts OR calls can be in trouble at any one time) are more feasible. The portfolio margin means that they asses this as 1 side having the risk/overall portfolio risk - whereas with a reg t margin you would be required to have enough funds in your account to cover the risk on both sides of the market at once.

 

[dreads]

OK, thanks for the information, I'll check them out.