What happened to my Limited Option Trading Permissions?

We have introduced two new, lower levels of option trading permissions — Level 1 and Level 2 — to extend option trading access to clients who may not currently qualify for the existing permission tiers. The previously named Limited permissions have been renamed to…

Option trading permissions are available for Margin, Cash and IRA/Retirement accounts. 

A Margin account may request any level of option trading permissions(1-4). A Cash or IRA account may only request levels 1-3, and full payment is required for all call and put purchases…

All clients are eligible for Level 1 options trading permissions. However, IBKR requires that clients be at least 21 years of age to be eligible for level 2-4 option trading.

---…

There are three types of ADRs: Level 1, 2, and 3. Due to meeting certain reporting requirements, a "Level 3" and a "Level 2" ADR could trade on a listing exchange such as NYSE and Nasdaq. A "Level 1" ADR offering is exempt from full SEC reporting requirements and will trade Over-the-Counter in the Pink or OTC markets due to it's minimal regulatory oversight…