Failure to Meet a Day Trading Call
When a Pattern Day Trader (PDT) account is issued a Day Trading margin call, the account goes into restriction until the call is met. There are two parts to the restriction, and two types of restriction based on the status of the call.
Call is open, but not yet past due: PDT account is in aggregation, and the account loses the right to use 4X day trading buying power and is reduced to using 2X stock BP for day trading purposes.
Call is open, and has gone past due: PDT account is in aggregation and may only use cash on hand to day trade with. (Customer may still use 2X stock BP for overnight trades only.)
If a second day trading call is generated within the 90 day restriction period, the call must be met on trade date + 1 or the account will be restricted to closing transactions for 90 days.This applies to both PDT and non-PDT accounts.
If a DT call is not met, the PDT account will remain in restricted status until the call is met, or 91 days pass from the due date of the call.
Day trade calls do not, technically, have to be met. The call will fall off after the 90 day restriction period ends.
DT calls are issued Trade Date +5 (T+5).