Series 7: 14.4.2.1 Options Accounts

Taken from our Series 7 Top-off Online Guide

14.4.2.1 Options Accounts

An options account permits a customer to trade options. All new options accounts must be approved by a Registered Options Principal (Series 4) or General Securities Sales Supervisor (Series 9/10) before any options transactions can occur.

Broker-dealers are held to a higher suitability standard for options accounts and must exercise due diligence to learn a customer’s suitability information before they can approve the account. Options accounts may allow options transactions at one of five trading levels, dependi

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