The Option approval level dictates what types of strategies you can employ in your Schwab account. In order to see the trading level your account is approved for look in the header of the Account Details window.
| Option Trading Approval Levels | |
|---|---|
| Level | Allows you to place: |
| |
| 1 | All of Level 0 plus:
|
| 2 | All of Level 1 Plus:
|
| 3 | All of Level 2 Plus:
|
If you decide that you would like to apply to upgrade your option trading level, please complete a new Option Trading Application. Schwab will evaluate your application and send a confirmation of the option trading strategy approved for your account.
Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Multiple leg options strategies will involve multiple commissions. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options." Member SIPC
Copyright ©Charles Schwab & Co., Inc. 2011. All rights reserved. Member SIPC. (0411-2708)
