Currently, only margin accounts can trade options. If you only have a cash account, you can upgrade to a margin account in order to gain option trading capabilities.
Please be aware that a margin account must have a minimum $2,000 account balance (not including option positions) to place an options trade.
For example, if your account has $1,500 in cash and $1,000 in existing option contracts, you would not be able to place another option order because your account balance excluding option positions is under $2,000.
Still got questions? Contact TradeUP Customer Support by email at support@tradeup.com or reach out to us on Live Chat!