Error placing OTO order with some stocks

Alpaca Trading
1

I am sending this request to buy these stocks every day at eod and am getting a 403 forbidden error for some reason, it only ever seems to happen with SOXL or TQQQ, but works for the other stocks I’m trading, so I am confused what is wrong.

{
"symbol": "TQQQ",
"qty": 133,
"type": "market",
"side": "buy",
"time_in_force": "gtc",
"client_order_id":  "d699c351-3694-4fa7-a2f7-1b25a704e79c",
"take_profit": {
    "limit_price":77.88
},
"order_class": "oto"
}
2

@lmvaughan4 The 403 error typically means you do not have enough buying power for the order so it’s rejected.

Leveraged ETFs such as TQQQ and SOXL have 100% margin requirements (so effectively cannot be margined) and therefore cannot be leveraged as much as ‘typical’ stocks. The RegT_buying_power and the day_trade_buying_power returned in the API assume a typical marginable asset. If placing an order for a leveraged ETF divide the RegT_buying_power by 2 and the day_trade_buying_power by 4. That will be the max buying power for those assets. In general, check the maintenance_margin_requirement in the assets table. If that is not 30 (for leveraged ETFs it is 100) you will need to reduce your buying power as above. See the documentation here. That is probably the issue?

3

ah thank you very much, I will investigate this tomorrow during market hours