Thomas Paine
Registered: Oct 2010
Posts: 5 |
10-06-12 03:11 AM
Hey guys,
I am planning on opening a cash account on options house. I did a whole bunch of research on day-trading, etc. So from what I understand, I can day-trade options as much as I want, assuming I have the cash on hand and I can only buy calls or puts.
So for example if on Monday I have 2,000 in my cash account and want to open a call position in XYZ stock and spend $1,000 on the transaction, closing the position on Monday. Now then I have to wait until the end of the day Tuesday (because options are T+1 settled), until have the access to that money again.
Is my logic correct?
Thanks.
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