Setup Checklist

• Authorize Schwab from your Toll Booth dashboard.
• Confirm you see “Authorized until [date]” after connecting.
• Re-authorize at least every 7 days; expired auth pauses automated orders.

• Enter your notification email address for trade and account updates.
• Enter your mobile number to receive text (SMS) alerts.
• If you see an “SMS opt-out date,” texting is disabled. Reply START to our number or adjust your SMS settings.

• Review and accept the Toll Booth agreements (or verify your acceptance date).
• Activate your subscription so Status shows “Active.” If “Inactive,” use the subscribe link.

• If you see “Pending approval,” wait for the brief manual review.
• Make sure Schwab has enabled API trading (you’ll see a “Green” status badge).

Note: “API trading” lets Toll Booth place orders securely when you allow it. “Green” means trading permissions are active.

• Contact Schwab to enable Options Level 0 (Covered Calls) on your account.
• Enable Schwab Limited Margin.
• Confirm in your Schwab profile that Covered Calls are permitted and Limited Margin is enabled.

Note: Toll Booth only places covered calls; higher option levels and portfolio margin are not required. Limited Margin helps ensure orders can be placed without settlement delays.

• Opening Orders: turn on to allow new opening orders to be placed for new Covered Call positions.
• Rolling Orders: manage an existing option by closing it and opening a new one.
• Closing Orders: exit existing positions when conditions are met.

• Preserve equity positions: do not sell stock shares to free buying power.
• Ignore this account: do not place orders in this account.
• Retirement Account: mark if this is an IRA/retirement account.

Note: If Opening Orders aren’t allowed yet, your choices are saved now and take effect after approval/API enablement.

• Covered Calls: you need at least 100 shares of a stock to sell one covered call.
• If you already have options positions, enable Rolling and/or Closing to manage them.

Note: A “covered call” sells a call option against 100 shares you own, typically to generate income.

• Review “Additional Schwab Accounts” and set preferences for each.
• Review “Approved Instruments” and opt out of Opening for any you don’t want auto-opened.
• Confirm API trading is enabled (“Green”) for each subaccount.
• Covered-call check: hold ≥100 shares in that subaccount for any symbol you want covered calls on.
• For each subaccount, set Opening/Rolling/Closing, Preserve equities, or Ignore this account.

• Click “Update Account” (single) or “Update Accounts” (subaccounts) to save changes.
• After approval and readiness, you can optionally join the Referral Program from your dashboard.

• API trading: a secure, automated way for Toll Booth to send orders to your broker with your permission.
• Thinkorswim “Green”: trading permissions are active and ready for API-based orders.
• Covered call: selling a call against 100 shares you own, typically to generate income.
• Rolling: managing an existing option by closing it and opening a new one (often to a later date/strike).
• Portfolio margin: a specialized broker margin program. If unsure, you can ignore this.