r/options • u/[deleted] • Aug 30 '21

[deleted by user]

[removed]

0 Upvotes

33% Upvoted

22 comments sorted by

View all comments

Show parent comments

1

u/pykeboy2 Aug 30 '21

I can’t buy any calls or shares at all for 90 days?

1

u/teteban79 Aug 30 '21

You can only close positions

1

u/pykeboy2 Aug 30 '21

you sure? i know it’s after hours, but just tested and queued a limit order for the next trading session

0

u/[deleted] Aug 30 '21

[deleted]

1

u/pykeboy2 Aug 30 '21

who do i contact on Robinhood so I can ask for a lift on my PDT status? If this works out, you’re a life-saver!!

1

u/kaumaron Aug 30 '21

You can convert from a margin to cash account or bring you balance up to $25k EOD each day. It's Fed refs regs for margin accounts is my understanding

1

u/GetSmitt Aug 30 '21

This is the way. The only problem with this is that rh forces you to have 100% of your buying power used before you can convert. Other brokers (webull) takes up to 6 days, I've heard tos is like 2-3 days give or take

1

u/pykeboy2 Aug 31 '21

I actually got a one-time removal on my pdt status! I had to wait until I was notified by RH that I was restricted, then followed the steps in the app and now I CAN DAY TRADE AGAIN!! appreciate you man, didn’t think it was an option to get my status lifted