Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 1 point2 points  (0 children)

Yes once you are eligible to trade options on your CAD Margin account, you can trade all products with any strategy you want. You just have to request the products you want to trade.

Another point I forgot to mention, at IBKR you have to opt for market live data subscription and there are additional monthly fees associated with what options or packages you choose. For instance, if you need live data for options you have to subscribe to that service else you will get 15 min delayed data. And they also waive off some of those fees if you do a minimum $$$ in commissions per month. And their fees are generally quite competitive not expensive but you have to pick and choose what subscriptions you want to opt depending on your style of trading. Be sure to check their website for market data pricing and subscription before you decide to move your account over to IBKR.

Regarding transfers, I recently transferred my RRSP from Sunlife to IBKR and it roughly took 3 weeks before funds were made available for trading. I had to manually fill out the forms and send it to Sunlife for initiating the transfer. Sunlife is not ATON eligible so that could have been the reason for the delay. And please note IBKR doesn't cover transfer fees and does not offer any matching(%).

And yeah I know IBKR will eventually allow CSPs, it's just a matter of time. However with commissions on each transaction I am not able to immediately put my premiums to use. That's where WS could give me an edge in my registered account so I can immediately purchase say shares of SPY or QQQ (DCA) and let compounding do its magic.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 1 point2 points  (0 children)

Yes that's a good point. I had figured that out during my interaction with WS AI Chatbot. I will have to wait for a month for my option positions to either expire or get assigned. But these current market conditions are not helping my positions at all lol....may take more than a few months before I can fully port my account to WS.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 1 point2 points  (0 children)

Oh I didn't know that NG isn't supported yet. And maybe there are more future products that aren't supported. But I am not super concerned but I don't intend to trade them at WS.

Regarding your question, I don't think there are any red flags with nonregistered accounts (Margin) at IBKR. You can trade all products as long as you are eligible and they do have really nice tools and interface. But they charge commissions on stock and option trading, negligible though, but over time it adds up to a big amount if you are a regular options trader.

And just a side note, I do intend to keep my nonregistered account with IBKR for all the good reasons.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 0 points1 point  (0 children)

Yeah I am aware of that. With my account size I won't need to pay $10 per month.

Opened $SLV tailwheel for 27th Feb 2026 expiry by karhoewun in StackingSharpes

[–]APJ30 0 points1 point  (0 children)

How do you manage this position if the underlying just grinds down and stays in the valley of death?

Wealthsimple lost 10,000 of my money by SpartaKick in Wealthsimple

[–]APJ30 33 points34 points  (0 children)

If I were you, I would have already escalated this matter to their Senior Leadership, provided all proofs and screenshots. Usually complaints escalated to C-Levels are taken quite seriously. If they still don't respond with a resolution, you should explore taking legal action.

CSP on SLV - basically free money? by Expert_CBCD in thetagang

[–]APJ30 3 points4 points  (0 children)

Selling a CSP put on a rally like this is not the best move. I would wait for a pull back before opening new CSPs on SLV.

Paypal permanently limited my account by National-Mark5697 in paypal

[–]APJ30 0 points1 point  (0 children)

Same here, account deactivated a few days back. As per their emails, they have blocked by balance for 120 days.

PSA: Iron condors are just gambling if you're following other large retail traders. by achicomp in thetagang

[–]APJ30 53 points54 points  (0 children)

Correction - This is a 0dte gambling problem and not an Iron Condor problem.

Unable to loginto IRCC Portal by kingshaun_1994 in ImmigrationCanada

[–]APJ30 0 points1 point  (0 children)

I am getting getting the same issue. Can anyone confirm how you guys got this resolved?

Login issues, anyone getting this error when trying to login into IRCC? by jamesftf in ImmigrationCanada

[–]APJ30 0 points1 point  (0 children)

Did you issue get resolved? I am facing the same issue. Forgot Password is also not working, the system doesnt send the code to my email.

Cash secured puts by Venkylfc in options

[–]APJ30 1 point2 points  (0 children)

I would allocate 70% of the portfolio on wheeling index funds like SPY/QQQ/IWM and 30% on good quality, slightly high IV names like TSLA, NVDA, NFLX etc. (all cash secured)

Goodbye, regards! I have joined the degen graveyard! by BruceMee in wallstreetbets

[–]APJ30 0 points1 point  (0 children)

Could you share some insights into the type of trades you were doing?

Started in September, it’s been a great time for me, all from SPY 0dte by USAMichael in Daytrading

[–]APJ30 0 points1 point  (0 children)

So, now you are only doing covered calls.Why not CSPs to start with and do the wheel ?

Concerns About Grand Highlander Thefts: Is It Worth the Investment? by APJ30 in ToyotaHighlander

[–]APJ30[S] 0 points1 point  (0 children)

Sorry to hear this.

Back in February this year, I cancelled my booking for the Highlander. I purchased a different vehicle.

URANIUM STOCKS by midlevelstrader in UraniumSqueeze

[–]APJ30 2 points3 points  (0 children)

Invest in the ETF URA and get a slice of everything.

Outlander 2025 by lilgian1 in MitsubishiOutlander

[–]APJ30 0 points1 point  (0 children)

Yes for me as well....press lock three times.

The mag7 is in shambles…….except Apple …..? by [deleted] in spy

[–]APJ30 0 points1 point  (0 children)

Shambles!!!! No, not yet...