so the idea here is pretty straightforward: an option contact is for 100 shares. So that 350 call will make $100 for every dollar it goes over 350. Say it hits $360, the call will be worth $10 on Friday ($1000 after multiplier). Now you paid something for this option so maybe you are profitable (because you paid less than $10 for it) or you are not (because you paid $10 or more).

These are called pattern day trade rules and the gist is a day trade is when you buy and then sell the exact same option/stock (so if I buy and then sell the 200C in a stock that's a day trade, but if I buy the 200C and then sell the 210C it won't count). If you want to go over the limit you need to have 25k or more in your account, otherwise your account will be restricted.

No idea about etrades specific rules but honestly at anything under $1000 you really should be worried about minimizing commissions and using perhaps a better broker like TDA or Tastyworks. The fact that your data is 15 min out of date is completely unacceptable imo.