So I was recently "disqualified" from placing options trades from RH... for the past year I've solely been selling call options on some of my losing trades, quite successfully I might add. In that time, I've never once been unemployed, my salary has risen over 100%, and I've never traded on margin. Upon contacting support, I was told that "we recently determined the options level in your brokerage no longer seems appropriate based on our criteria, as a result you won't be able to open new options positions". After probing further on what those criteria are, I got the reply that "due to regulations, brokerages cannot disclose the criteria...".
This puts me in quite the conundrum, not to mention makes me furious, because I'm a Robinhood Gold user with over 100k in the account, but if I'm unable to trade options it doesn't seem like the right brokerage for me. However, I don't think I can bid goodbye to the 4.65% interest I'm getting there. Please help with my conundrum! I don't want to associate myself with the brokerage that without explanation cancels my options trading privileges but I think moving everything out of there and getting a matching APY would be tough.
Thanks for your inputs!
[link] [comments] https://www.reddit.com/r/stocks/comments/146l1q0/suspended_from_rh_options_trading_with_no/
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