What are the different Option Levels for trading available through Vision?
There are different option levels available through Vision which offer the following capabilities: • Level 1 includes covered writing of equity calls; • Level 2 includes Level 1 and the purchase of equity and index calls and puts, index straddles or combinations; • Level 3 includes Level 2 and equity spreads plus covered writing of equity puts; • Level 4 includes Level 3 plus uncovered writing of equity calls, puts, straddles or combinations; and • Level 5 includes Level 4 and uncovered writing of index calls, puts, index spreads, straddles or combinations. Please be aware that Individual Retirement Accounts are eligible only for Levels 1 and 2. In addition, Levels 3, 4 and 5 require a signed Margin Supplement to be submitted to Vision. Whichever Level you may request for your account needs to be reviewed by a Registered Options and Security Futures Principal at Vision before the request can be granted.
