How Do I Sell Options on Merrill Edge?
You need to fill out an options application to get started. Log into your account and go to the forms and applications center. Tap "apply now" located on the left side of the options application and agreement. Choose an account and read the Options Disclosure Document. If the account doesn't have a link, it's either the account isn't applicable for trading or you need to do the paper applications.
Investors use options to potentially generate more income, and while it's possible to earn more, options aren't for everyone because of the risks involved. Read further to know how to get started with selling options on Merrill Edge.
Getting Started with Options
First, you need to fill out an options application for every account you want to use for trading options. It has to be approved before you can start trading options with Merrill Edge. The approval takes a few business days. Below are the steps to getting started with your application.
1. Log in to Merrilledge.com and go to the forms and applications center. You'll find this in the help and settings tab.
2. Hit "apply now" on the left side of the options application and agreement. You may also just search for "options application" to get to this page.
3. Select an account you want to use for trading options. If the account doesn't have a link, it could mean it's not allowed for options trading - or you may need to do a paper application. If you have questions, please contact Merrill Edge Customer Support.
4. After choosing an account, view the risks involved when trading options. Once you've read the Options Disclosure Document, tap "begin" and follow the on-screen instructions to get started with your application.
You can start selling options at Merrill Edge as soon as your account is approved. The cost for trading options is between $0 to $0.65 per contract. To be successful with selling options at Merrill Edge, it's important to set clear objectives and understand the risks associated with options. Make sure you stay up to date with market trends and news, and develop and implement trading strategies as much as possible.
Feel free to use Merrill Edge's Options Education Hub to learn more about how trading options work. Please don't hesitate to contact customer support if you have questions about trading options.
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