Which broker can I use for Layered Options? Will my account allow it?
Quick answerAny broker that lets you trade call vertical (debit) spreads. Many brokers need an options approval level that includes spreads: check yours. The Quick Start Guide lesson has videos for Robinhood, thinkorswim and Webull.
The details
- What you need: the ability to buy a call vertical (a debit spread), and to place a GTC limit to close it.
- Your options level: spreads usually need a higher approval than single calls. Your broker's site says which level allows them.
- IRA accounts: many allow defined-risk debit spreads; ask your broker.
The Quick Start Guide (Choosing a trading platform) lesson on your Layered Options page has the videos (placing the trade).
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