Before a customer may trade options, the broker-dealer must:

Why A — Obtain account approval from an options principal

Options trading requires principal approval. Margin and custodial accounts are not required for all options accounts, and there is no universal $25,000 minimum for options-account approval. The $25,000 figure belongs to the legacy pattern-day-trader framework, not a general options-account requirement. FINRA Regulatory Notice 26-10 replaces the legacy day-trade count and $25,000 pattern-day-trader minimum with intraday margin standards. The amendments became effective June 4, 2026; firms may phase in implementation until October 20, 2027. During the transition, a firm that has not implemented the new standards may still apply the legacy requirements. This does not mean all firms have already removed the $25,000 requirement.