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How difficult to get options level 2 trading approval through Schwab? Looking to migrate everything there to have everything in one place debated between a few places but I am wondering how strict it will be to get approval to do spreads level 2 through Schwab?

I have had this approval from TDA for years so I'm wondering their process? LOL, do you work for Schwab? I filled out the application accurately.

If it doesn't go through the first time are you saying to lie the next time or will they catch on? Level 2 is the level of options trading with Schwab required to trade options spreads.

Level 1 is just selling straight calls and puts with Schwab. No, you can't sell naked options in level 1.

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That would be level 3. You can only buy to open options or use covered calls and the like in level 1. So I trade through scottrade. Trading calls and puts are available to me.

Could I get access to level 2 trading on Scottrade? I'm assuming that's something they have but generally oh need to apply for that access with any broker. Yeah I would definitely read up before even considering changing your level so you can decide if it's something you would ever want to do. It's not for everyone. This is how they define levels, not sure if this is universal or just their terminology: Call them right now and ask what the requirements are for level 2.

Ask for an Active Investor when someone pick ups. I did call them yesterday but they gave me more of a vague answer. They said that each account is reviewed independently to make the decision and there is no static requirement.

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You won't be able to vote or comment. Thank you for sharing! Would someone be willing to explain what level 2 means? Every broker breaks it down differently.

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