Today, I wanted to trade some Options on Webull. I had to apply for access, after punching in a few numbers, great! I now have Options level II – oh yea, I need to put money in the account. Ok, the bank is already linked so I start a ACH transfer.
Good thing Webull gives some instant cash available for trading. So I pull up the options chain I wanted and tried to enter a vertical spread.
Your account does not allow for this type of trade.
What? I look up Options level II – and sure enough, Options level III is required for “advanced strategies” like a vertical spread. Mildly annoyed I looked at the requirements for Webull, and I need a margins account.
So I look try to convery my cash account into a margins account and I need $2,000. Oh right, the ACH transfer is still processing. It may take a day of a few (since it’s almost the weekend) before I can upgrade to a margins account and reapply for access to Options Level III.
UGH. I’m so used an instant world, it’s really hard to have the patience to wait.
Alas, it’s something we need to have on occasion. Patience.