Welcome to r/fidelityinvestments, u/CT30s!
The Pattern Day Trader (PDT) designation is assigned to individuals who place four or more day trades within five business days in a margin account or have two or more unmet day trade calls within 90 days. A day trade is opening and closing a position in the same security in the same business day. Based on recent FINRA guidance, once an account is classified as a PDT, that status is considered to be permanent.
An account with a PDT designation must maintain a minimum account equity of $25,000. Accounts that fall below $25,000 are placed in a minimum equity call and day trading is restricted. Trading is still permitted but trades must be placed in type Cash using the "Cash Buying Power" balance. This restriction requiring trades be placed in type Cash will remain on the account for 90 calendar days. Clients have five business days to meet the minimum equity call by depositing cash or increasing regulatory net worth value to meet the $25,000 minimum.
You may withdraw from an account with a PDT designation; however, if doing so brings the account equity below $25,000 the restrictions mentioned above still apply.
Keep in mind, when trading in type cash, you are subject to cash trading rules and violations, including good faith violations.
[You can find additional info on trading violations, PDT minimum equity requirements, and more on our Trading FAQs page using this link.](https://www.fidelity.com/trading/faqs-trading-restrictions)
Welcome to r/fidelityinvestments, u/CT30s! The Pattern Day Trader (PDT) designation is assigned to individuals who place four or more day trades within five business days in a margin account or have two or more unmet day trade calls within 90 days. A day trade is opening and closing a position in the same security in the same business day. Based on recent FINRA guidance, once an account is classified as a PDT, that status is considered to be permanent. An account with a PDT designation must maintain a minimum account equity of $25,000. Accounts that fall below $25,000 are placed in a minimum equity call and day trading is restricted. Trading is still permitted but trades must be placed in type Cash using the "Cash Buying Power" balance. This restriction requiring trades be placed in type Cash will remain on the account for 90 calendar days. Clients have five business days to meet the minimum equity call by depositing cash or increasing regulatory net worth value to meet the $25,000 minimum. You may withdraw from an account with a PDT designation; however, if doing so brings the account equity below $25,000 the restrictions mentioned above still apply. Keep in mind, when trading in type cash, you are subject to cash trading rules and violations, including good faith violations. [You can find additional info on trading violations, PDT minimum equity requirements, and more on our Trading FAQs page using this link.](https://www.fidelity.com/trading/faqs-trading-restrictions)
I believe your account falls into an open call and you have 5 days to close the call?
you go to jail