I have about $90k in a Fidelity IRA. I have the majority of my 401k type money in an S&P index funds.
I personally think there is some serious downside risks right now mostly due to the political climate. What I am looking for is to invest $10k in S&P put options with a strike price of about 10% below the current price and an expiration in slightly over a year.
I see this as an insurance policy. Just like all insurance premiums, I am willing to lose the $10k. I am even willing to lose the $10k plus 10% of my portfolio if the S&P happened to fall exactly 10%.
Fidelity will not let me trade options on the IRA. I've applied but they require that I can prove having experience in options trading. I wish I could explain to them my plan, how I have thought it through, and that I am not a day trader or risk taker.
So, does any others offer IRA's that would allow me to make this investment without prior options trading experience?
Alternatively, are there funds which work as leveraged hedges like this?
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