How do I open an options trading account?
For this service, you’ll need what’s called a “Level 2 options account.” For this, you’ll need to fill out a quick three- or four-page form that your broker will provide you.
If you call up your broker’s customer service line or email them, they’ll provide you with an option account application form. It will ask a few questions about your financial situation, investment background and interests.
Be sure to check the boxes that say “buying calls and puts.”
Once you submit this form, your broker will typically give you approval within two or three days.
For more information on options investing, click here to view our primer.
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