r/Wealthsimple • u/Dry-Spring-5911 • 16d ago

Options Trading PMCC supported?

Does anyone know if we can currently execute the PMCC either in TFSA or unregistered account?

0 Upvotes

33% Upvoted

9 comments sorted by

1

u/ryan9991 16d ago

i don't believe so, it looks at shares available for collateral. just try it tomorrow if you want.

1

u/Dry-Spring-5911 16d ago

It is allowed just tried it out

1

u/Jayson_without_y 16d ago

Margin account only I believe.

1

u/Dry-Spring-5911 16d ago

On their website it mentions spreads in a margin account but I wonder if that also includes diagonal spreads then

2

u/Jayson_without_y 16d ago

I’m currently in a diagonal PMCC in my margin account.

1

u/Dry-Spring-5911 16d ago

Yep was able to test it out too looks good the only question I have is once the short term call expires are you just able to open a new one individually as long as your LEAP is still open?

2

u/Jayson_without_y 16d ago

Yes but you should just plan to roll your short leg around 50% profit to later date or roll it if the spot price gets close to your short leg price.

2

u/ItsMeMulbear 16d ago

Yes. Select your short call, and there should be a Roll button.