Loc: North San Diego County
The idea is that a high-risk venture should not be an investment for a person who can't afford to lose it when the little company tanks. Of course, brokers let pretty much anyone trade options. Some of them are actually more conservative than owning the underlying stock, but some are way more risky.
There are all kinds of schemes that can get you past angel-status. For example, buy a bankrupt company that has registered to sell stock.