- Level 1: Covered call and Cash Secured Put Writing (Cash secured put writing only available in Cash accounts. Short puts are considered naked in margin accounts.)
- Level 2: Level 1 + Buying Long Calls and Long Puts
- Level 3: Level 2 + Option Spread Permissions
- Level 4: Level 3 + Naked Put Writing
- Level 5: Level 4 + Naked Call Writing
- Level 6: Level 5 + Naked Index Option Writing