What options strategies can I use on SoFi?

If you’re approved to trade options, you can use these strategies:
 

• Sell covered calls (generally requires 100 shares per contract)
• Sell cash-secured puts (requires enough buying power to buy the shares if assigned)
• Buy calls
• Buy puts
   

These strategies let you generate income or take directional positions. When you buy options, your maximum loss is limited to the amount you paid for the contracts.
 

We don’t use trading “levels” like some other brokerages. If you’re approved, you’ll get access to all supported strategies. We don’t currently support multi-leg option trades.
 

If you’re not sure what you’re approved for or want to know when more strategies may be available, contact us and we can help.

Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire amount invested in a short period of time. Before an investor begins trading options they should familiarize themselves with the Options Disclosure Document. Tax considerations with options transactions are unique, investors should consult with their tax advisor to understand the impact to their taxes.