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Prepare
Your Account
Its time to set up your account.
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Depending on your brokerage firm, you may or may not already be confirmed to trade different options levels. Since the Writingputs Service does plenty of spread trades and often unwinds them, you will want to make sure you are approved for the different option levels.
Level 1: Covered Calls Level 2: Buy Calls or Buy Puts Level 3: Credit and Debit Spreads Level 4: Selling Uncovered Options Level 5: Selling Uncovered Index Options
You will want to be approved for at least level 3 but if you can get level 5 it would be better. Regardless of whether or not you think you will use all 5 levels, it is best to be prepared in case you ever do need them.
Please call your current brokerage firm and ask what level you are approved for. If it is not level 3 or higher, you will want to ask to update your account giving you level 3 permissions.
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