We assess specific criteria when reviewing accounts for Options Trading approval. Based on your initial responses, we determine the appropriate trading level (1-3) for your profile.

You may submit up to two initial applications for approval. If you are not approved for your desired level, you can reapply after 60 days.

For further details on option trading at Alpaca, please navigate to our documentation.

For further educational information on Options trading, please refer to: https://www.optionseducation.org/

Options trading is not suitable for all investors due to its inherent high risk, which can potentially result in significant losses. Please read Characteristics and Risks of Standardized Options before investing in options.

All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. There is no guarantee that any investment strategy will achieve its objectives. Please note that diversification does not assure a profit, or protect against loss. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.