How the Hell do I get approved for options?

[VictorS]

optionsxpress won't reject you.

 

[Optionpro007]

Quote from Pathus:

Option.. at this point I'll take any broker.

Good. So then LIE, LIE, LIE to the bastarts.

Sometimes one has to do whatever it takes.....

 

[Pathus]

I haven't heard a lot of good things about them. Mostly mixed messages. Everybody seems to love TOS or IB. Any reasoning why Options Xpress would take me? I would rather have a sure-fire route so I don't waste another 2 weeks on this shit.

 

[Dr. Zhivodka]

Find a broker that will take your cash.


Can't imagine that would be too difficult.

(rolls eyes)

 

[candletrader]

Tell em you've got 5 years experience trading options, and are pulling in $200,000 a year in a bad year... they can't reject you on that basis...

 

[Sophomore]

http://www.hilliard.com/products_options_option_trading_req.html

These are Hillard Lyons' option trading requirements. I don't use them personally, but it should help you get an idea of what brokers generally expect from their options applicants.

 

[BSAM]

How come trips to Las Vegas haven't been outlawed yet?

 

[Pathus]

Lyons only requires "sufficient capital to buy options" Well you would think 19,000 is enough to buy an options lol.

I think I'm going with TOS thanks for the input people.

 

[Optionpro007]

Quote from Pathus:

I just want to trade. I'm 20 years old and I have a mentor. I would have made like 10,000 dollars in the past 3 weeks doing the same trades he did. That is why I am god damn pissed off.

Chagi... I only applied for level 2: to buy puts and calls and I still got rejected.

What would be the repercussions if I lied and said I had high income and high net worth?

Pathus:

I am curious, what type of option trading does your mentor do ?

The 10K you are referring to would have come out of equities or futures options.

Long or short ? or combinations?

Thanks.

 

[Pathus]

Long and short positions. He uses mostly information (asking a supply clerk how busy he has been), some fundamental analysis, some technical analysis, and using reasoning/market psychology to figure out what is happeneing.

Equities options.