48: Options Approval Levels Tips - How to Quickly Work Your Way Up The 4 Different Levels

Show notes: http://optionalpha.com/show48 

Options approval levels are options trading restrictions placed on your brokerage account to prevent or allow you from entering different options strategies. Most new traders, and admittedly some experienced traders, often don’t know which trading level they are in or even that levels exist. Still, you should always reach out to your current broker and check with them directly to be sure.

While trading approval levels and names can vary from broker to broker, there are usually 4 main levels that you’ll encounter. In today’s episode, I’ll first help you understand why brokers have these levels and the types of options strategies you’re allowed to trade in each of the four. Plus, I'll help answer some common questions I get from members about either applying for a trading level to start with or moving to a higher approval level. 

Towards the end I'll share some tips and suggestions after talking with 6 different options trading brokers about new strategies or tactics you can use if you’ve been denied after applying for a higher trading approval level. After listening to the podcast today, if you find success using what you’ve learned please post a comment below the show notes. Tried a completely different approach that got you higher trading approval? Add that as well and share it with the rest of the community.