BTW, most (but not all) cash accounts are IRAs, and as far as options trading in IRAs goes, brokers vary widely in their interpretation of the rules. My broker says one can trade any option combination in an IRA account with the exception of one that includes selling a Call because a short Call, if exercised, would leave you with a short position in the account which is a no-no in an IRA.
In a margin account the only limitation is that one must have sufficient funds available to meet the maintenance required on that trade, How maintenance is calculated varies from broker to broker.
Newly
