A Short Restricted Strategy call (SL) is generated when cash or IRA accounts ends up with a short stock position. This typically happens when a short call is assigned or if a long put expires in-the-money (ITM), which results in short stock.


If you were assigned early from a short call that was part of a spread in your IRA account and your long call is ITM, then you may perform a covered stock order to meet the SL call. To learn how to setup a covered stock order, please click here.


Short stock position(s) in cash or IRA account must be closed by the end of the day the SL call is issued. Any short stock that is not closed by the customer will be closed by the tastyworks trade desk.