Hi, I’ve been applying for level three margins with Fidelity a few times now, but getting I keep getting restricted to level 2. I have over $40,000 in equities and have two years of option trading experience and have an aggressive growth mindset.

What are the exact qualifications that Fidelity looks for to be approved for level three margins accounts? I am highly interested in selling naked puts

Recently I’ve been trying to apply and get approved for level 3 options trading from Fidelity which would allow me to trade credit and debit spreads, which are much more attractive to me than buying calls/puts.

My question is that I am not getting approved, and I was wondering the requirements for spreads. I currently have a $1,000 dollar account, and have level 2 options trading available. Do I need more money in my account to trade spreads? If so, what amount?

If anyone uses Fidelity to trade, advice would be much appreciated.

I've had Tier 1 options approved for a while. But the problem is whenever I apply for Tier 3 it automatically approves me for Tier 1. It seems like the system doesn't know I've already been approved and just pre-approves Tier 1. I've tried twice. Anyone no why?

I put on the the application that I make over $100k (true), my net worth is between $50k-$100k (also true), and that my liquid net worth is $30k-$50k (again, true). I also put I had 2 years experience with all the trading, except stocks which I put 4 years. I have around $30k in assets and cash in my Fidelity account. They still only gave me level 1 options trading and their customer support was not helpful, they told me to reapply in a year (fuck that!). Anyone have any recommendations on what changes I can make to my next application to improve my chance of getting level 2 or level 3 options? I'm aiming to transfer more cash into the account and apply again in a couple weeks

I tried purchasing a contract the other day and was told I couldn’t. Is there a reason for this and how do I get permission?

Fidelity is the broker I prefer and trust most but I’ve had to open accounts with other brokers solely to have access to options after being denied by Fidelity.

I’m wondering specifically what length of history I need with advanced options strategies in order to be approved for tier 3 on Fidelity because I would prefer to move all of my investments, options included, back to Fidelity. Are my odds better if I start off by applying for tier 1 or 2 first then waiting a few months? Or would a few monthly statements from another broker including short strangles/straddles, naked puts, etc. be sufficient evidence of competency?

For context, my Fidelity account is already margin-approved with no margin call history.

I've had a Fidelity account for a couple years now as it's what my employers used for 401k retirement accounts, but never opened an individual investment account until Robinhood restricted $GME buys on 1/28 as I created my RH account well before my employment.

A few days ago, I pulled the trigger and initiated a full account transfer from RH to Fidelity and applied for level 2 options trading, but was approved this morning for level 1 with the transfer still processing. I'm assuming this is because I reported my income and assets to be in the lowest brackets (currently unemployed and a student so it's not like I have much). Would it be possible to contact Fidelity to verify I'm aware of the risks associated with options trading and request a level increase? Or will I have to just wait for a couple months until I can move and find employment/another income source? I'm not necessarily looking to trade heavily in options; rather, I'd just like the ability to spend a few bucks every once in a while on deep OTM weeklies^{i'm a responsible investor.}

Also, should I be concerned if margin isn't enabled on my Fidelity account? I'm aware that RH shares are considered to be on margin rather than cash when transferring and have heard issues with shares transferring back to RH. I've already taken screenshots of my order history for each of my positions on the RH account, but what other steps can I take to resolve this or other potential issues?

Thanks.

I’m specifically interested in selling put options, which appears to require level 3 approval. I have been approved for level 1.

I have appx $65k with them in a cash account, appx half is in long term stocks and the balance in cash and some smaller short term positions.

I’m new to options, am a conservative investor, etc. what can I do to change this approval?

So I’m starting to get pissed off now because I want to leave Robinhood, but everywhere I go I can only get level 2 options trading. It makes no sense why because I’m answering the questions right and everything but no matter where I go I am never allowed to do spreads. Is it because I have to put in the 2k before they allow that? Or what can I do because all I want is to be able to trade spreads and there’s no point in me switching if I can’t.

Anyone know the requirements for getting a higher option tier? I’ve had Tier 1 since I’ve opened my account but never get accepted for Tier 2. Not sure how strict they are with giving people new option tiers. Would love to learn more about their process if anyone knows. Thanks!

Hey everyone. Been looking towards getting into options, and just wondering which option tier I should be choosing? I know I don't know all the different strategies and terminologies, however I don't mind experimenting with it while learning about it. I want the ability to learn and trade all different types of strategies, so initially I'd assume to go with lvl 3, however just wondering if I should be starting with a lower one, and if yes, why? Are there downsides to higher tiers? Also if I start with a lower tier, can I later on switch to a higher one? Thanks everyone. (Please don't give me your opinions weather to be trading options or not.)

When I first applied for option trading I got approved for level one. I have over $10,000 in the account and I applied for level 3 options and I got denied multiple times at this point. Do I need to have $25,000 minimum to get that approved or there are any hidden secrets behind it.

I currently trade options and I'm confused about options levels with fidelity. I currently can trade calls, puts, covered calls, cash covered puts and spreads but can't roll options. I want to go to the next level higher to trade calls but when I apply it says I will lose the ability to trade spreads. Seems odd? How do I get to trade spreads and rolls?

Which one can I buy calls and sell the contract? Also options trading in general questions:

1. So if a call is set to expire on 3/5, does it expire 3/5 at 4pm est or when it literally is 3/5 at 12am est?

2. So if you exercise your call before 3/5, don't you have to wait T+2 until you own that stock? What if the price does down after 3/5?

Example, I put a call for $10 expiring 3/5, on 3/4 it is $15. I exercise my option. Don't I have to wait T+2 before I can sell it? On 3/8 it may go back down to $9.

I am in the process of moving my account from RH to Fidelity. I've been trading options in RH and Interactive Brokers since 2017. I know, I know, RH approves anyone for all levels. But I feel I have enough experience with buying calls and puts and that's all I want to do. I have never SOLD any options because I do not want to run the risk of getting assigned.

Here's what Fidelity has for Level 1 and 2:

Level 1 Covered call writing of equity options. (I am not interested in this)

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. (I am only interested in purchasing calls and puts)

What do I need to do? Take a class on options trading? Lie with my experience and income? I agree I don't have experience with WRITING/SELLING options. That's why I won't touch it. I am in the process of transferring 160k from RH. I already have a 401k and HSA with Fidelity. Maybe the problem is that my individual trading account is at $0 right now. Will it make a difference to apply again for level 2 options once my account transfers and I have 160k in my individual account in Fidelity?

Who approves options levels for options trading at fidelity and how do I get in contact with that office? I talked on the phone to a customer service representative today about my options approval level. I just transferred a brokerage account and Roth ITA with Level 3 options approval from ETrade and when I transferred over, I wasn’t given any options trading approval so I applied and they approved me for Level 1 (ok but that’s not high enough, I don’t like buying or selling puts so this is not going to be used). So I applied for an upgrade to Level 2 (I want to buy call contracts), waited…approved. For Level 1. Again.

So I thought, ok this must be an error. I don’t want to bet against companies, I want to invest in companies that I’m bullish on and all I’m allowed to do is buy puts. I called up customer service to try to get this corrected and he said he couldn’t help me. I said “Ok, well then can you give me the number of the department that approves the options levels? At the very least, I’ll see what the prerequisites are so that I can match them and get my account upgraded. I’ll talk to them directly.” I get back, “No sir, I can’t contact them, I don’t know who I would even contact about this. They don’t accept outside emails or phone calls, it has to come from internally.”

So that’s kind of shady but I stayed polite and asked him what else I could do and he said all I could do was put in another request. Got it. So now I’m just going to put in a request every day until I get upgraded since there are just arbitrary prerequisites.

TLDR: If someone could tell me who I can contact for options approval and prerequisites for the levels instead of me swamping customer service with account requests, that’d be awesome. Thanks!

How much income/experience do I need for T3 options?

What is the bare minimum of what I should have before applying for the options? What is the minimum experience required.

I mean tier 1 options