Aparently IBKR cash accounts doesn't recognize the hedge on a vertical credit spread, they calculate the margin as if it is a cash covered put. They calculate the margin not on the hedge (the difference between the two puts, bought and sold) but on the full assignment at the lower strike. Gemini suggests that vertical credit spreads are not allowed on cash account on IBKR and only works on margin accounts ... is that true? @Wendy Dai what do you think?

Trading Index Options requires a separate permission, when I enter to request permission, the US Market is not available to select, only available options are Europe and Asia. Do I need to enable another permission first like Leveraged ETFs or something? it is not clear to me because I already have Level 3 and trading other options for the US market.

To everyone who’s new to the options world — I completely understand how confusing, even bit overwhelming, these first 3 weeks can feel. But here’s the truth: everything becomes dramatically clearer after just one real trade — or even one paper trade — gets filled in your brokerage account. Over a year ago, my very first “student” was my best friend from university. I explained the option basics and ROP strategy to her in two hours on a Sunday afternoon. The very next day, she made $200 in 10 minutes (200 USD to her in China mainland is quite a lot). She was thrilled, after that she kept going every day. She continued learning from me, placing trades every week, researching wonderful companies in her spare time, and within a few months, her option income was steadily covering her salary and now much more than that. But the biggest change wasn’t just about the money. Her mindset expanded. Her curiosity expanded. Her world expanded. Over the past year, I’ve taught many students, and 90% of those who truly followed through achieved similar results. Per my observation, the successful ones share the same traits: 1️⃣ They act fast. Once their account and options permissions are ready, they place trades — paper or real. One trade is enough to unlock understanding. Don’t wait six months — by then you’ll forget, overthink, and feel more confused. Momentum matters. 2️⃣ They learn and practice every week. Not extreme intensity — just consistency. Commit a few hours a week for two months. Review the lessons, rewatch recordings, place a few trades weekly, research one company you like to start with. That’s enough to get real traction. Consistency beats intensity. 3️⃣ They engage with the community. They ask questions. They participate. They share their wins. They stay involved in community and chat group. The more engaged you are, the more this becomes part of your identity - as an investor, and the easier it becomes to execute and make money. You don’t change your life first —

Here’s the recording and slides from today’s session. Another suuuper long one — thank you for your patience. However we had a lot of important content to cover, and I wanted to make sure everything was explained clearly. Hopefully it wasn’t too verbose. https://www.skool.com/wnedys-group-3133/classroom/d7c4ee50?md=5d753a7361224228a88d20c49a95c098 Feel free to share your feedback and post any questions in the Telegram chat or here in Skool community. Since tomorrow is Chinese New Year’s Eve, wishing all of us "Gong Xi Fa Cai", which means may you grow wealthier and more prosperous this year. Be Richer, Wendy

1. Open your IBKR account using my referral link. It will be a US account, so you’ll need to convert your funds to USD before depositing. https://ibkr.com/referral/wenyi422 2. Fill in your personal info to open the account, better to open a "margin" account (account type: trading), instead of "cash" account (account type: investment). 3.provide details about your income, net worth, and investing experience. We need option level 3 permission, please refer to the attached screenshots — I think they should be sufficient. (pic 1 and 2) 4.Apply for option permission: 1️⃣ Open the IBKR website → log in to your account 2️⃣ Go to the Client Portal (account dashboard) 3️⃣ Click your profile icon in the top right corner → select "Settings" ->"Trading permission" -> "Request Option" (see picture 3-5) 5. How to funding Your Account: Once your account is ready, you’ll need to fund it with USD. Steps: IBKR website -> login to your account -> Transfer & Pay -> Transfer Funds -> Deposit Funds Then follow the instructions; (pic 6) Based on different currency selections, there are different methods to fund your account. (pic 7). For example, if you're using AUD, then you can transfer from WISE balance or even BPAY; If you need to convert your currency to USD, I recommend to use CurrencyFair. It’s the cheapest way I’ve found, and once you set it up, it’s super easy. My referal link：https://www.currencyfair.com/rafland/?channel=R7JA81 Let's Rock and Roll! Wendy