A: You’ll need to have an account that’s cleared to trade options. You may already have this in place. If not, you can get this sorted out by answering just a few questions, but you will need about 48 hours before you can place your first trade.
Most options firms require a minimum deposit of $2,000 to $3,000, and to get started it generally takes only the time required to get your money cleared through the broker.
Most of our Alpha-9 trades will require at least a Level 2 clearance (though that level is named differently by different brokers).
As you become more comfortable with options, you may want to trade strategies that require a Level 3 clearance. So be sure to get the highest level of authorization you can.