Account Type
Setting key
account_type
Default
(must be set per account)
What it does
Account type determines which options structures are allowed. Margin accounts have access to all structures including undefined-risk. IRA and cash accounts are restricted to defined-risk structures only (iron condors, credit spreads, debit spreads). Custodial accounts have a hard 5-contract cap enforced automatically. 401k accounts are blocked from all trading.
When to change it
Set once at account configuration. Do not change without understanding the structural restrictions.
Safe range
One of: margin, IRA, cash, custodial, 401k.
Example
Account type=IRA: short strangles and naked options are blocked. Only iron condors and defined-risk spreads are eligible.