Scottrade will only let me do one put or one call per stock symbol. The problem is that I want to play the Nasdaq in a straddle and to do that I need to play two different stock symbols representing the Nasdaq. I want to play QQQQ and NDAQ with a put option on one, and a call option on the other. Does anyone know if this is possible with Scottrade? You don't have to use two differently stock symbols to execute a straddle on the Nasdaq. There are two different ways you can do a long straddle on the Nasdaq. (1) Buy 50 shares of QQQQ and buy 1 put option. (2) Short 50 shares of QQQQ and buy 1 call option. Both of these methods has the same risk/reward profile as a long straddle.