Can UTMA Brokerage accounts trade options.?

I was recently trying to a buy call option on td ameritrade under an UTMA brokerage account. It rejected the order saying "this account isn't approved for this level of options trading", but all I was doing was buying an option, which means I can only loose the amount I spend on the option, so why is... show more I was recently trying to a buy call option on td ameritrade under an UTMA brokerage account. It rejected the order saying "this account isn't approved for this level of options trading", but all I was doing was buying an option, which means I can only loose the amount I spend on the option, so why is it being rejected.
5 answers 5