Options Trading

Advanced options trading with pro-grade tools that all traders love.
Diverse Options Strategies
Trade with Precision & Ease
Advanced Options Trading
Low Options Fees
Start Trading Options
options trading

Webull Options Trading

With the wide array of options and complex options strategies offered by Webull, you have the freedom to explore and capitalize on opportunities across different markets, asset classes and strategies that align with your investment goals, capital exposure, and risk tolerance.
ETF Options

ETF Options

Forecast the performance of index and sector exchange-traded funds (ETFs).
Index Options

Index Options

NDX, SPX, XND, XSP and other domestic index options.
Learn more >>
Equity Options

Equity Options

Utilize equity options strategies to predict and anticipate the market movement of individual stocks.

No Commission & Low Contract Fees

Trade Options with Webull without contract fees or commissions for stock & ETF options. Only $0.55 per contract on index options. Webull charges a fee of $0.10 per contract for all option orders above 500 contracts except for index options.
Brokers
Commission​
Contract fees
20 puts/calls​
(20 total contracts)​
20 Verticals​
(40 total contracts)​
20 Iron Condors​
(80 total contracts)​
Fidelity​
$0 ​
$0.65 ​
$13.00 ​
$26.00 ​
$52.00 ​
Charles Schwab
$0
$0.65
$13.00
$26.00
$52.00
E*Trade​
$0 ​
$0.65 ​/ $0.50​
per contract
$10.00 - $13.00​
$20.00 - $26.00​
$40.00 - $52.00​
Tastytrade​
$1
per contract​
$0 ​
$10.00 ​
$20.00 ​
$40.00 ​
$0 ​
$0 ​
$0 ​
$0 ​
$0 ​
Start Trading Options

Webull’s Powerful Trading Platform

Analyze risk, see probabilities, simplify your trading! Build your ultimate options trading experience with our powerful platform, various tools and customizable widgets.
Customizable Options Trading

Customizable Options Trading

Generate options orders effortlessly using our user friendly options chain and create multi-complex strategies.

Traders can quickly filter options and trade them immediately with our TurboTrader Options widget - view market depth, quickly execute entry orders, and pre-determined exits from a single interface in Price Ladder trading.

Webull Advanced Options Trading

All new registrants receive complimentary Level 2 Quotes (Nasdaq TotalView) access and 1-month complimentary OPRA and CSMI data access for all traders who trade once a month. Learn more >>

Options Strategy Builder

You can create multi-legged combination orders on the fly and access predefined combinations like straddles, strangles, butterflies, and condors.

Simply point to the first desired strike, and the tool will automatically adjust to select the remaining legs.
Options Strategy Builder
Options Chain

Options Chain

Powerful tools to analyze and filter options chains, and monitor existing positions through our comprehensive tools.

Options Statistics

View detailed metrics on options pricing (delta, theta), implied volatility, and expected volatility, and more.

Options Scanner

Set custom options search filters to find contracts sorted by price, volatility, and time to expiration.

Probability Analysis

Analyze the risk of an underlying outlook for an earnings release or any catalyst by running our probability analysis.

Options Calculator

Helps traders assess the potential outcomes of your strategies by inputting key variables. The calculator provides valuable information to help you make more informed decisions.

Seller Center

Collect premiums as income by selling put options. This tool helps you easily screen for puts to sell and includes an ROI tool that screens for covered calls.

Options Screener

Quickly filter and identify potential options trading opportunities based on indicators like expiration date, type quotes, volume, and probability analysis.

Options Paper Trading

Practice and test your options strategies in a risk-free environment. Learn market dynamics, experience, and build confidence before entering the live trading arena.
Options Calculator
Start Trading Options

Webull Options Trading Permissions

Eligible traders can gain access to up to four levels of options trading permissions, providing a wide range of strategies to align with your trading goals.
Options level
Strategies
Level 1​
•   Covered calls•   Buy writes•   Cash-secured puts
Level 2​
Everything in Level 1
•   Long calls and puts•   Straddles•   Strangles
•   Covered puts•   Protective puts•   Collar
Level 3​
(available to margin accounts)
Everything in Level 1 & 2
•   Credit spreads•   Butterfly•   Diagonal spreads
•   Debit spreads•   Condor•   Iron condor
•   Calendar spreads•   Iron butterfly
Level 4
(available to margin accounts)
Everything in Level 1, 2, & 3
•   Naked calls and puts
Start Trading Options

Securities trading is offered to self-directed customers by Webull Financial LLC, a broker dealer registered with the Securities and Exchange Commission (SEC). Webull Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), The New York Stock Exchange (NYSE), NASDAQ and Cboe EDGX Exchange, Inc (CBOE EDGX).

Webull Financial, LLC is a CFTC registered Futures Commission Merchant and NFA Member. Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement and other relevant Futures Disclosures located at www.webullbrokers.net/fcm-disclosures.aspx prior to trading futures products. Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Advisory accounts and services are provided by Webull Advisors LLC (also known as "Webull Advisors"). Webull Advisors is an Investment Advisor registered with and regulated by the SEC under the Investment Advisors Act of 1940. Registration does not imply a level of skill or training. See additional information on the Disclosures webpage. Trades in your Webull Advisors account are executed by Webull Financial LLC.

Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 in any cash awaiting reinvestment). An explanatory brochure is available upon request or at www.sipc.org. Webull Financial LLC’s clearing firm Apex Clearing Corp has purchased an additional insurance policy. The coverage limits provide protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.

Options trading entails significant risk and is not appropriate for all investors. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Losses can potentially exceed the initial required deposit. You need to complete an options trading application and get approval on eligible accounts. Please read the Characteristics and Risks of Standardized Options before trading options.

All investments involve risk, and not all risks are suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit or protect against loss in a down market. There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing.

Diversification does not eliminate the risk of experiencing investment losses. Margin trading increases risk of loss and includes the possibility of a forced sale if account equity drops below required levels. Margin is not available in all account types. Margin trading privileges are subject to Webull Financial, LLC review and approval. Leverage carries a high level of risk and is not suitable for all investors. Greater leverage creates greater losses in the event of adverse market movements.

Investors should be aware that system response, execution price, speed, liquidity, market data, and account access times are affected by many factors, including market volatility, size and type of order, market conditions, system performance, and other factors. Market volatility, volume and system availability may delay account access and trade executions.

Free trading of stocks, ETFs, and options refers to $0 commissions for Webull Financial LLC self-directed individual cash or margin brokerage accounts and IRAs that trade U.S. listed securities via mobile devices, desktop or website products. A $0.55 per contract fee applies for certain index options and a $0.10 per contract fee applies for oversized option orders. Relevant regulatory and exchange fees may apply. Please refer to our Fee Schedule for more details.

No content on the Webull Financial LLC website shall be considered as a recommendation or solicitation for the purchase or sale of securities, options, or other investment products. All information and data on the website is for reference only and no historical data shall be considered as the basis for judging future trends.

© 2024 Webull Financial LLC, All rights reserved. Member FINRA/SIPC/NYSE/NASDAQ/CBOE EDGX