Currently use ETrade where I have a margin account, I've sold covered calls and an occassional CSP with actual cash set aside. Currently put excess cash in VUSXX.
I'm seeing online there are a limited number of brokerages that allow sweeps to money market funds that can be used as collateral (Fidelity & Vanguard).
I'd like to employ a conservative CSP strategy and the extra 3% or so of yield from a collateralized MMF is important.
Wondering if I should consider opening a Fidelity account or is there a way to use my marginable ETrade account and VUSXX or like MMF to accomplish the same thing, earning interest on my cash while selling puts.
\*\*\* A side question, if I sell the put using margin as collateral when does the broker charge me interest..on the collateral period right when the option is sold or only if assigned?