Yes you must deposit additional monies and/or securities.
ALSO the minimum amount of equity you can have in a margin account is $2,000, with only $2,100 on deposit, you next transaction will probably result in a federal margin call which means you have 24 hours to put up additional equity.
First, I don't think TD is "closed on weekends". Try the toll free 1-800-669-3900.
You can margin stock at 50%, which is why it indicates 4200 buying power. Options aren't really marginable in your situation, so you will actually be buying them in your cash account. In which case you would have, I would think, $2100.
But you should check with them
Good luck
There is no such thing as "option buying power" since option ARE NOT marginable. As some one aleady stated options do not have ay loan value therefore they can not be used for margin. All option purchases must be paid in full or have an off setting position against the contracts BUT they have no loan value
I have a tier 2 margin account with TD and want to start options trading.
I deposited small amount to start with ($2100) and was hoping to trade some verticals and iron condors. But my account allows a stock buying power of $4200 but $0.00 options buying power.
Do I need more capital to be able to place option trades rather than just stock purchasing.
TD not open on weekends to ask and don't want to waste time over weekend looking at charts if I can't trade what I want.
Thank you in advance.
