Why wouldn't trading be for morons? Should we also limit loans to people who have a specific minimum IQ or do we live in a free society?

Maybe not based on that metric, but is it really unreasonable to limit loans to people who have demonstrated that they have the ability to understand the terms that they're agreeing to?

Idk if we should, but we do. Generally getting a loan includes this thing called the credit approval process. If one is unable to responsibility manage their personal finances they have a good chance of being limited in their access to loans.

Maybe they'll introduce binary options soon.

Imagine on iOS you randomly gets a pop up "do you think gold spot is gonna be above 1250 in 2 hours?" -> long tap the notification directly place an order

Hahaha, I love this comment because when I'm trying to buy options it always makes me chuckle how they allow these type of people to trade naked options

You can't buy a naked call/put.

Naked, covered, and cash secured are terms used to describe how you are covering your downside when you are selling options.

When you buy an option, your downside is always the cash you spent on the option, so you don't have different types of purchases. When you buy you are just buying an option.

As for Robinhood, they don't allow for selling of naked options, only covered and cash secured.

Interesting, thanks!

People just like to have options, I guess.