The "Pattern Day Trading" (PDT) era is officially coming to an end! In this episode, Dan Passarelli and Mark Longo break down the massive regulatory shift coming on June 4th—which some are calling "Trader Independence Day." FINRA is moving away from the rigid $25,000 account minimum for active traders, but as the old saying goes: be careful what you wish for.

In this episode, the drill instructors discuss:

• The Death of PDT: What the removal of the "four trades in five days" rule means for small accounts.

• The New "Dynamic" Risk Models: Why your broker might be watching you closer than ever.

• The Rise of Margin Calls: Is the trade-off for freedom a more aggressive liquidation environment?

• Zero-Day Options (0DTE): How the explosion of same-day expiration forced the regulators' hands.

• Implementation Timelines: Why some legacy brokers might keep you under the old rules until October 2025.

Plus, we answer listener questions about the impact of this change on stock volatility and the potential for "call skews" to get bid up by a new wave of retail traders.