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You would like to open a brokerage account to trade NAKED options I would like to know what is the criteria that is followed by the brokerage firms for me to qualify for such complex trading?
Shakalaka
Most options brokers make you fill out a personal profile when you first open an account. This profile determines the level at which the broker will place you which determines the kind of trading you can do. Naked writes are the highest risk level options strategies and are usually granted only to traders with the highest level determined usually by your years of experience, fund size and frequency of trade.
If you are not already at that level, you could request for a review from your broker.
After which, in order to write options, you would require sufficient margin. Margin in options simply means having enough money to buy the underlying stocks or short the underlying stocks if the options you wrote are exercised. Different brokers have slightly different practises which I outlined in the tutorial in the relevant links below.
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∙ 14y ago
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