In an IBKR Cash account you cannot hold a short option as part of a call/put spread as credit spreads are not allowed in Cash accounts. You would have to upgrade the account to a Margin account.
Use the button above or follow the below procedure to request an upgrade to a Margin account type:
- Log in to Client Portal
- Click the User menu (head and shoulders icon in the top right corner) followed by Settings
- Under Account Settings find the Account Configuration section
- Click Account Type to request an upgrade from Cash to Margin
- Click on Continue and complete the steps presented.
Please Note
- Requests will be reviewed by the IBKR Risk and Compliance Departments. Approval typically takes 24 to 48 hours.
- If you recently downgraded your account from Margin to Cash, market regulations require a waiting period of 30 days before your account becomes eligible for Margin again.
Additional Information
- Changing your account type in the Client Portal Users' Guide.
- How do I downgrade from a Margin to a Cash account?