Quote:
Originally Posted by lewdog
I wasn't looking to do anything crazy like that but simply place a long call on a stock. A few hundred dollars for the premium. Couldn't lose more than that so I'm not sure why that's not allowed?
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You were just looking to buy a call? You normally have to file additional paperwork and show you are a sophisticated investor. Then they have to approve you.
If you own a stock and you want to write a covered call option against it, you usually need a margin account. Your position is protected as if your option was executed and called, you have the stock to hand over.