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You may be right. It is very puzzling to me too. My balance is $2000. I heard the same thing from Merrill Lynch which made me believe this is a common thing and not limited to just one trading broker.

Hi I recently decided to learn more about option trading and I decided to start slow and with my own money. I joined OptionsHouse, only to learn that as a beginner with no prior experience in trading, they do not permit me to trade spreads, or sell any options. So, I am left with only two...