What’s the options trading approval process?

We’re required to assess whether different options strategies are appropriate for each member. This evaluation is based on your trading experience, investment goals, and financial situation.
At SoFi you’ll be able to trade covered calls, cash-secured puts, long calls, and long puts, depending on your profile and the strategies you’re approved for.

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.