Account not eliglible to trade uncovered option contracts

Alpaca Trading
1

Hi, I am getting this error today (same 2 days ago, yesterday was fine), trading STOCK on my paper account. Cannot place a single order. (Code 40310000). Ideas on how to get rid of this? I am on Algotrader Plus subscription, Options level 3 is enabled.

Edit: This seems to be the case only when placing stock orders while I have option orders out. Option orders work and get executed, but I can only place stock orders after canceling option orders.

2

A stock trade that leaves a prior option position uncovered will be denied. E.g., if you sell a call option but then try to sell the underlying shares that covered the call, the latter will fail unless you have sufficient capital to cover it. Closing the short call would allow you to trade the stock again. Without further details of your particular case, it’s hard to say what exactly is going wrong.