Our platform supports limit and market order types for options trading. A market order executes immediately at the best available price, while a limit order is filled only at your specified price or better. Limit orders can be placed during or outside market hours while market orders are available during market hours only.

What option strategies and underlying assets are available?

Our platform currently supports the following options strategies: long call, long put, covered call, and cash-secured put. Options trading is available for US-listed stocks and ETFs.

What does it mean to buy a call or put option?

When you buy a call option, you're expecting that the securities price will rise.

It gives you the right to buy the securities at a fixed price, potentially below market value.

When you buy a put option, you're expecting that the securities price will fall.

It gives you the right to sell the stock at a fixed price, potentially above market value.

What is a covered call, and how does it work?

A covered call is an options strategy where you own the underlying stock and sell a call option against it. This earns you income in the form of a premium, but you must sell the stock at the strike price if the option is exercised.

It is used to generate income from stocks you already own, which is required to place a covered call option order. We require a minimum of 1 contract (usually 100 shares) of the security to place a covered call order, with additional increments of 1 contact.

What is a cash-secured put, and how does it work?

A cash-secured put involves selling a put option while holding enough cash to buy the stock if assigned. The goal is to collect the option premium and the stock price remains above the strike price until the option's expiration date.