Thanks_ follow up qn-Covered calls. Are the services worth it?
Dear Mark:

Thanks for confirming my gut feel. I will read your book (referred on your site may be).
Also I believe that you like and recommend OptionsXpress? If I do it in a Roth IRA, there should be no tax implications, correct?

Thanks again


Good morning,

You are very welcome.

I have never used OptionXpress (OE). But I hear good things about them. However, consider TOS (Thinkorswim). Most people who express an opinion on the topic prefer the latter. TOS has excellent software for monitoring risk. It's not so easy to learn, but if you do take the time and if software that keeps track of risk is important, this may be better for you.

I personally use Interactive Brokers (IB). IB is much less expensive (75 cents per contract and no assignment fees. But there is a minimum monthly commission ($30, I believe. They charge a $10 fee if you trade less). And their customers service is less than that of the OE or TOS. If commission costs is your major concern, this may be for you.

Bottom line, I think any of these 3 are good. It depends on your individual needs. You can always open a play money account and check them out. (I assume they all allow free paper trading, but am not certain.) You can choose the trading platform that feels most comfortable, if that's your major concern.

If you trade in a Roth IRA, the tax implication is: No taxes on the profits.

Yes, the book is described at

Best regards,


Mark D. Wolfinger
Create Your Own Hedge Fund: Increase Profits and Reduce Risk With ETFs & Options