BP
BP p.l.c.
stock NYSE ADR

late, but they're selling put options using margin. So say you have 100k in your account and your displayed buying power is around 300k, he'll have the 100k invested in SPY/VOO while using the remaining BP to sell puts for some extra money. Basically similar to cash secured puts

So... With all the money y'all be making off the 1R3N war, $XOM $CVX $BP..., y'all gonna contribute to the #Hyperfund for all the petrochemical lawsuits that energy company's, like $DUK in Lake Norman, are futilly fighting right? RIGHT? Otherwise, 0.05 USD off at the pump ain't gonna cut it.

AXIOS Breaking News: Daktronics $DACT secures multi billion dollar deal with Shell, Exxon and BP to replace all gas station signs with 4 digit displays.

I got about £20 BP

hope they didnt trick you like the BP in miami try to, with a massive difference between the cash price vs card

My only regret is not being able to open more because other options are eating up my BP i'll be good in oct/nov though and then we doubleing down on space X

You can only sell cash secured puts (CSP) with a Level 2.
CSPs are secured by cash or cash equivalents only. (I believe this is a FINRA requirement.)
Some people in REDDIT have said that their broker allows the account value (or buying power) to be used. (I think this is what you want.)
RobinHood and Schwab have been mentioned. (I cannot verify.)
Fidelity requires cash.
With a Level 2, you can sell put spreads using account BP as collateral. In some cases, a put spread is a good substitute for a cash secured put.
You can also apply for Level 3, then you can use BP as collateral. You will be selling a naked put. The BP required is much less than the cash required for a CSP.