kolbuszch 0 Report post Posted July 9, 2017 Good Morning All, Excited to be a new member of Steady Options. Have spent 6 months studying and exploring to become as knowledgeable as possible. It is a lot to learn and process - but very interesting. Here's my question. I have been approved for options trading for some time, but want to make sure I have all my ducks in a row as I will soon put through my first Steady Options "work". Below is my approved level for options from Fidelity - Level 4. Will level 4 be sufficient to utilize Kims guidance? I have set up this account with $10000 and would follow the allocation guidelines precisely. Will Level 4 accomplish what I need to accomplish? Level 1 Covered call writing of equity options. Level 2* Level 1, plus purchases of calls and puts (equity, index, currency and interest rate index), writing of cash covered puts, and purchases of straddles or combinations (equity, index, currency and interest rate index). Note that customers who are approved to trade option spreads in retirement accounts are considered approved for level 2. Level 3 Levels 1 and 2, plus spreads, covered put writing (selling puts against stock that is held short) and reverse conversions of equity options. Level 4 Levels 1, 2, and 3, plus uncovered (naked) writing of equity options, uncovered writing of straddles or combinations on equities, and convertible hedging. Additionally, any thoughts on Fidelity as my platform? Thanks for your thoughts! Share this post Link to post Share on other sites
Kim 7,513 Report post Posted July 9, 2017 Yes level 4 is sufficient. In fact even level 3 should be fine. Share this post Link to post Share on other sites
kolbuszch 0 Report post Posted July 9, 2017 Great! Thank You. Share this post Link to post Share on other sites
