I only intend to buy and sell call and put contracts, using my own money, without writing any contracts myself nor using any margin. Why am I getting approved for margin, but not getting the clearance I need to simply buy and sell assets? It hardly makes sense; what am I missing here?
I have a stable trading strategy and have been using it to buy and sell ETFs for about a year now. I want to access options trading to reduce risk, more than to increase revenue.
I applied for level I the first time and got approved for writing covered calls, which I have no use for, and margin, which I don't really intend to use either. When I reapplied for level II, I got rejected due to low income.
I'm severely disabled in a developing country, so I make peanuts on a good month and I'm virtually unemployable in any formal way. Hence, I make less than $24K, which is the lowest échelon on the form. Was I too honest on the application? I guess it's too late for that now.
Is there a way to appeal or negotiate the approval? What am I doing wrong here? Should I give them a call?
I hope I'm not breaking any rules; this is not about me as an investor, but rather about paperwork, really.
Thanks in advance.
[link] [comments] https://www.reddit.com/r/stocks/comments/12dvedr/help_with_tds_options_trading_approval_process/
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