Hey traders,
Last week I told you about my “Triple Crown” of income trading.
Then today in my FREE Telegram channel today I talked about how in order to trade the “Triple Crown”, you need to have access to certain types of options at your brokerage.
I want to go a little deeper into that because it’s not always a straightforward process.
This isn’t a step-by-step tutorial — every firm is a little different — but here’s the big picture so you know what to look for and how to approach your broker.
Brokers label levels differently
It seems like each broker (Schwab, WeBull, Robinhood, etc) use different “levels” (some start at Level 0, some Level 1; some have 3 levels, some 5).
Ignore the number — focus on which strategies that level allows. For the Triple Crown, you’re generally looking for access to:
- Covered Calls
- Cash-Secured Puts (CSEP) — the rookie-friendly way to “sell a put” where you have enough cash in your account to cover the stock if you get assigned
- Vertical Credit Spreads — spreads that let you know from the moment you place the trade what your max loss is
Quick note: some brokers list “covered puts.” That’s not what you’re looking for. For the Triple Crown, you want cash-secured puts, not covered puts.
How to find the switch at your broker
Most firms have an Options Approval page in your account settings. If you don’t see it, a short phone call does the trick. You can simply ask:
“Can you enable covered calls, cash-secured equity puts, and basic credit spreads on my account? These are income strategies with limited/defined risk. Which approval level is that here?”
They’ll point you to the right box to check.
Why I’m reminding you now
Heading into Q4, I want you ready to collect premium whether the market grinds, chops, or drifts. That’s the whole point of the Triple Crown:
- Own shares? Sell covered calls and collect rent.
- Want shares lower? Sell cash-secured puts at a price you’d be happy to own.
- Prefer defined risk? Sell credit spreads on liquid names with a clean trend.
Make sure your account has the right access now so you’re not stuck watching from the sidelines when the next clean setup shows up.
If you can’t find the page on your broker’s site, just call them up. This is something they do every day and can easily help you figure out how to get approved.
Trade well,
Jack Carter
P.S. Forget the news… follow the hidden money trails. Open this and thank me later.
