https://www.thinkorswim.com/tos/displayFaq.tos
What is a pattern day trader?
Effective September 28th, 2001 the NYSE and NASD imposed a $25,000 minimum equity requirement for 'pattern day traders.' Consistent with the new margin rules, if a thinkorswim customer's margin account falls under $25,000 and the customer has opened and closed positions on the same day four times within five days, the customer will not be allowed to open new positions until the $25,000 requirement is restored.
Additionally, for a designated 'pattern day trader' account, the customer is allowed on any day to open new positions up to a total of the account's Day Trading Buying Power (defined as four times account equity less maintenance margin requirements). The rule requires orders exceeding Day Trading Buying Power to be rejected.
Margin Requirements
What are your margin requirements for equities and equity options?
Please see our margin requirements in the MARGIN SCHEDULE in the RATES section. Generally speaking, our margin requirements for equities and equity options conform to NASD requirements.
How do I calculate the margin on a short call or short put?
To learn how to calculate the margin requirement of a short call or short put, see our margin schedule.
Margin Schedule
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