💫 Summary
The video discusses how to gain access to level 3 options on Robinhood, which provides access to advanced option strategies such as credit spreads and iron condors. It explains that level 3 options are available with Robinhood instant and gold accounts, but not with cash accounts, and details the process of demonstrating trading experience and updating the investor profile to qualify for level 3 options approval.
✨ Highlights📊 Transcript
Level 3 options on Robinhood provide access to advanced option strategies such as call credit spreads and put spreads.
Level 3 options allow for more affordable alternatives to selling uncovered calls.
Call credit spreads and put spreads are mentioned as examples of advanced option strategies.
The video recommends checking out Weeble, a commission-free online trading platform.
To access level three options on Robinhood, you need to have either a Robinhood Instant or Gold account, as cash accounts do not have this feature.
Iron Condors, Calendar spreads, and Iron Butterflies require level three options.
Box spreads are not allowed on Robinhood.
Level three options provide access to advanced option strategies with benefits over level one and level two strategies.
Switching from a cash account to either a Robinhood Instant or Gold account is necessary to have level three options.
To get Level 3 options approval on Robinhood, users need to have an accurate and up-to-date investment profile, and previous trading experience.
Robinhood cannot provide exact details due to individuals arbitraging the system.
Users need to make a couple of small trades to show they understand trading.
Completing five to ten regular options trades may allow users to upgrade to Level 3 options.
To get Robinhood level 3 options approval, one can try making a few small trades and update their investor profile.
Making a few small trades can show that you understand the trading process.
Updating your investor profile can help Robinhood determine if you are eligible for level 3 options trading.
Revisit your investor profile and update it to reflect your current risk tolerance.
This section discusses how to update your information on Robinhood to potentially qualify for level three options approval.
You can update your investment preferences, such as risk tolerance and potential return.
You can update your yearly income.
You can update your withdrawal timeline.
You can update your main source of money.
00:00hey what's going on YouTube Welcome Back
00:02to Tech conversations I'm your host
00:04Guillermo it is September 28th hope
00:06you're all having a great day today
00:08before I get into today's video all I
00:11ask is they guys hit the like button
00:12down below and subscribe guys it really
00:14helps out the channel and check out the
00:16Discord or the link to it in the
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00:21completely free to join you can also
00:23become a premium member on here for
00:25seven dollars a month you'll get access
00:27to a bunch of great resources one of
00:29them is our alert here's an example of
00:31an alert from today this was a put
00:33option on Neo we paid 92 we sold for
00:36110. so we made an 18 profit per
00:39contract on this alert so check out the
00:41Discord link to it in the description
00:44below now in today's video I want to
00:47talk about definitely the most asked
00:51question ever that I have seen and this
00:54is how do I get access to level three
00:58options on Robin Hood so firstly guys if
01:01you haven't already make sure to check
01:03out Weeble right now you can get 12 free
01:05stocks valued up to 32 000 by using my
01:09link in the description below Weeble is
01:12a commission free online trading
01:13platform that allows you to invest in
01:15stocks options and crypto so go ahead
01:17and check out Weeble guys I'll put a
01:19link to them in the description below
01:21now first of all guys what is level
01:25three options and why do you want it so
01:29let's take a look here firstly at that
01:30so again this is going to be on
01:32Robinhood and this document is actually
01:34from Robin here Robin Hood here as you
01:37guys can see so when it comes to level
01:39three options this will basically give
01:43you access to Advanced option strategies
01:47so what strategies does this include
01:50let's take a look at some of the
01:52examples they mentioned here so for
01:54example call Credit spreads which can be
01:57a great alternative to selling uncovered
02:00calls and a lot cheaper so if you have
02:02you know a smaller account you may want
02:05to use call Credit spreads instead
02:07versus using covered calls it's going to
02:09be a lot cheaper it's going to be a lot
02:10more affordable same thing with put
02:12credit spreads right a great alternative
02:14to selling cash secured puts but for
02:17smaller accounts because when you sell
02:19cash secured puts you may need thousands
02:21and thousands of dollars but if you have
02:23a small account you can instead do or
02:25use put credit spreads right they also
02:28have call debit spreads put debit
02:30spreads iron Condors right that's going
02:32to be an advanced option trading
02:35strategy you need to have level three
02:36options to use iron Condors calendar
02:40spreads you need level three options to
02:42use calendar spreads iron butterflies
02:45right iron butterflies can be great
02:47strategy to use in a neutral Market they
02:51can be very cheap as well but again you
02:54do need level three options to use iron
02:56butterflies and then box spreads aren't
02:59allowed uh so again you know many other
03:01strategies as well that I myself have
03:03talked about in the past right like the
03:05Christmas tree butterfly spread diagonal
03:08spreads things like that you need to
03:10have level three options so that's why
03:12you'd want to have level three because
03:13again it's gonna basically give you
03:15access to Advanced option strategies
03:18which do have a lot of benefits over
03:21just you know simply buying a call
03:23buying a put selling covered calls
03:26selling cash secured puts and some of
03:28these other level two options strategies
03:31or level one option strategies so let's
03:34take a look here at what we need to do
03:37to get access to level three options now
03:41the very first thing I want to mention
03:42here is that level three options is only
03:46available with Robinhood instant and
03:49gold accounts but it's not available
03:52with cash accounts so again this is
03:54something Robin had recently implemented
03:56they recently allowed users to to switch
04:00to a cash account right before cash
04:03accounts weren't a thing on Robinhood
04:04but now you can switch over to a cash
04:07account however if you do switch over to
04:09a cash account understand you cannot
04:11have level 3 options on Robinhood then
04:14so if you do want to have level three
04:16options on Robinhood you have to switch
04:18back from your cash account to again
04:21either a Robinhood instant account and
04:23or a gold account so that's the very
04:26first thing I want to mention here now
04:28secondly I actually went ahead and asked
04:31Robinhood directly what we exactly
04:34needed to do to get access to level 3
04:37options on Robinhood now I already knew
04:40what they were probably going to say but
04:42I just wanted to do this just to show
04:44you guys uh you know exactly what they
04:46were going to say here so let's take a
04:48look here so here is the response this
04:51was on Twitter so the requirements for
04:54advanced option strategies level two and
04:56three are based on multiple factors such
04:59as risk tolerance and options trading
05:02experience and there aren't any
05:04exceptions Robinette is required to have
05:06a minimum option suitability for our
05:09users this is usually initially based
05:12from your investor profile and previous
05:14trading experience so we'll get back to
05:16that here please make sure that your
05:19investment profile is accurate and up to
05:21date if you choose to apply for advanced
05:23options trading again we cannot give
05:26exact details a minimum requirement due
05:29to individuals arbitraging the system
05:31for options access right so basically
05:35they kind of told us a couple of things
05:37that they look at but they cannot give
05:40us exact details which I agree with
05:43right because if they gave us exact
05:44details as to what you needed to do
05:47everyone would go ahead and do that even
05:50individuals that may not be ready for
05:52level three options and they may end up
05:55in trouble right they may end up getting
05:56into a trade that they just don't
05:58understand they may end up losing a lot
06:00of money right so again they didn't give
06:03us you know exact details I knew they
06:05weren't going to give us exact details
06:06because again you know they can't just
06:08allow everyone to go and just you know
06:10fill everything in how it's supposed to
06:11be and get level three options even when
06:14they may not be ready for it however
06:16they did give us a couple of things here
06:18that I also see a lot of other
06:21individuals mention uh when they went
06:23ahead and they got access to level three
06:27options so I'm primarily talking about
06:29this last sentence here in the first
06:31paragraph so usually initially based
06:34from your investor our profile and
06:37previous trading experience so let's go
06:40down each one of these here because
06:42again this is mainly what you will hear
06:44other people mention uh as to you know
06:47what they had to do to get access to
06:48level three options so let's first focus
06:51on this one right here previous trading
06:53experience so here are things that have
06:55worked for a lot of people so number one
06:58you need to make a couple of small
07:03trades to show Robin Hood that you kind
07:07of have you know the hang of it right
07:09that you kind of understand what's going
07:11on so a lot of people will say that
07:13after you complete five to ten you know
07:17regular options trades they were allowed
07:20to upgrade to level three options so for
07:23example what you may be able to do is
07:25find a stock you know that's relatively
07:28cheaper uh so you know maybe something
07:31like let's say like Riot or something
07:33right right blockchain so you can find a
07:36stock that's cheap and you know buy a
07:39couple of calls on it buy a couple of
07:41puts they don't have to be expensive
07:44um and you know people say that after
07:45they do that you know five to ten times
07:47they were allowed to upgrade again it's
07:49just allows Robin Hood to see uh that
07:52you know you kind of do understand what
07:54you're doing you understand the process
07:55of entering the trade of closing the
07:57trade you know you're not going all in
08:00and putting 100 of your portfolio into
08:02one trade things like that right so
08:04that's the first thing you may need to
08:06try that again it's worked for a lot of
08:08people you just need to make a couple of
08:10small trades and again you don't have to
08:11do anything crazy here just buy a couple
08:14of calls couple of cheap puts you know
08:16things like that and then you know just
08:18allowing Robin to see that you do
08:20understand what you're doing now if that
08:23still does not work right uh you may
08:27have to go ahead and go on to the second
08:29thing that they actually mentioned here
08:31right which is uh your investor profile
08:35and again this is the other thing that
08:37you may hear a lot of people mention as
08:39to you know what they had to do to be
08:41able to get access to level three
08:42options so you may have to go into your
08:44investor profile so they should be you
08:47know in your settings and then you go to
08:49your investment profile you may have to
08:51go into your investor profile and you
08:54you know potentially when you first
08:55signed up you answered some of your
08:57profile questions any conservative
09:00fashion now I'm not saying to go ahead
09:04and lie on this questionnaire but just
09:07revisit it right maybe there are some
09:09things that have changed since you first
09:11filled it or maybe you're approaching it
09:14from a higher risk trading perspective
09:17right so maybe when you first signed up
09:19you were looking for you know safer
09:21Investments maybe now you want to take
09:23on a little bit more risk a little bit
09:25more speculative trading you will have
09:27to change that in your investment
09:29profile and that can determine whether
09:31or not Robinhood will allow you to have
09:34access to level three options on
09:36Robinhood so we actually take a look
09:38here let's go over to that now and take
09:42a look so if I go over to this right
09:45here so actually uh Robin Hood actually
09:48just uh had a link in there that said
09:51that I had to answer a couple more
09:53questions because their questionnaire
09:54had changed so it should potentially
09:56look something like this right but let's
09:58look at this for example here this is
10:00the first question right how much
10:01experience do you have investing in
10:03stocks and funds so for example when you
10:06first signed up to Robinhood maybe you
10:08selected none right maybe you select the
10:10none and therefore if you select the
10:13none that could have definitely well
10:15been a reason why robin it's not going
10:17to allow you to get access to level
10:18three options but now maybe it's been a
10:20couple of months maybe it's been a year
10:22since you first signed it you know since
10:25you first applied for this so now you
10:27could potentially come in and switch
10:28that to maybe a little or a good amount
10:31maybe you've learned a lot in a year so
10:33you could change this to a lot right so
10:35you you know let's say we do a lot here
10:36which type of investment are you most
10:39comfortable with so again maybe when you
10:41first signed up you chose this first
10:43option that says lowest risk lowest
10:45potential return right it's very
10:47possible Robin Hood's not going to allow
10:49someone who selects that to have access
10:51to level three options but again now
10:53maybe things have changed maybe now you
10:55want to take on a little bit more risk
10:57so maybe you can now change this to
10:59medium risk medium potential return or
11:01maybe you could switch it up you know if
11:03you're really really looking for some
11:04more risk some more speculative trading
11:06right highest risk Highest Potential
11:08return right so maybe you could do that
11:11right your yearly income maybe that's
11:13changed so you can go ahead and change
11:14that in here right so let's just say
11:15like right here right when do you plan
11:18to withdraw the money you're investing
11:19on Robinhood right maybe when you first
11:21signed up you thought it was going to be
11:22in a year well maybe now you're looking
11:25for longer term maybe now it's going to
11:27be in 10 years or more maybe you're not
11:29sure anymore right so again just coming
11:31back in here and just looking at these
11:33questions again and seeing you know have
11:35things changed uh you know what's what's
11:39the main source of money right maybe now
11:42you know you have you know a different
11:45Source maybe you have a side job
11:46something like that right so just coming
11:48in here looking at this question here
11:50again question here again and just you
11:52know answering these questions uh you
11:55know maybe you know thinking things have
11:56changed obviously especially if you've
11:58been on it for months maybe even spent
12:00years right so this is definitely
12:02something that Robin Hood's going to
12:03look at to try and determine is this
12:06person ready for level three options
12:08right so that's kind of what again ends
12:10up working for most people again first
12:13thing is just doing you know completing
12:15a couple of small trades to show Robin
12:17Hood you understand what you're doing
12:18second thing is you know coming into
12:21your investor profile taking a look at
12:23this questionnaire again and you know
12:25just checking to see how things changed
12:27uh you know again maybe you answered it
12:29first when you first signed up in a
12:31conservative fashion maybe now you're
12:33looking for a little bit more of a
12:34riskier investment things like that
12:36right so anyways guys hopefully this
12:38helps you out if you have any questions
12:40feel free to leave them in the comments
12:41section below check out the Discord link
12:44to it in the description below hope you
12:46enjoyed the video let me know what you
12:48guys think I will see you guys next time
Chat with video

FAQs about This YouTube Video

1. How can I gain access to level 3 options on Robinhood?

To gain access to level 3 options on Robinhood, you need to have a Robinhood Instant or Gold account. With a cash account, you won't have access to level 3 options.

2. What advanced option strategies are available with level 3 options on Robinhood?

Level 3 options on Robinhood provide access to advanced option strategies such as credit spreads and iron condors, which can be valuable for experienced options traders.

3. How can I update my investor profile to qualify for level 3 options approval on Robinhood?

You can update your investor profile on Robinhood by demonstrating trading experience and fulfilling the requirements set by Robinhood for level 3 options approval. This may include specific trading experience and knowledge of advanced options strategies.

4. What are the benefits of having level 3 options approval on Robinhood?

Having level 3 options approval on Robinhood allows you to access advanced option strategies, which can potentially lead to more diverse and sophisticated trading opportunities. It also indicates a higher level of trading experience and knowledge.

5. Can I access level 3 options on Robinhood with a cash account?

No, level 3 options on Robinhood are not available with a cash account. You need to upgrade to a Robinhood Instant or Gold account to gain access to level 3 options.

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