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What are the minimum account requirements to place option trades?
What are the minimum account requirements to place option trades?
Updated over 4 months ago

While Firstrade does not require a minimum balance to open an account or invest in equity securities, we do require minimum equity in order to place certain option orders.

The following table lists the option strategy and the minimum equity required to place option orders:

Option Strategy

Minimum Equity Required

Covered Calls

No Minimum

Cash-Secured Equity Puts

No Minimum

Buying Puts & Calls

No Minimum

Spreads, Straddles, Butterfly, & Condor

$2,000 + Margin Required

Uncovered Puts

$10,000 + Margin Required

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