Trading Options Online with SoFi
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Options trading1 could
support your income-
generation goals.
If you’re looking to generate potential income from investments and help reduce risk2, online options trading with SoFi Invest® could be the right choice.
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Get started
1Options involve risk and are not suitable for all investors. Please read the Characteristics and Risks of Standardized
Options before engaging in options trading.
2Check out the OCC Options Disclosure Document.
Best for no options contract fees for Sept 2025§
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Based on SoFi Members. This claim may not be representative of the experience of all other customers. | Updated: 11/14/2024
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Why trade options?
Options give investors the flexibility to invest based on whether they think
a stock is going up—or down. See our Options 101 guide for more.
Potential to support
income-generation goals
Investors could use options trading to try to get more out of assets or cash they already hold.
Potential to help manage risk
Options could support investor goals to manage downside risk, like a safety net against falling prices.
Advanced strategies to explore
Options aren’t for everyone. But there could be a strategy that meets your goals for next-level trading.
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See how SoFi Invest® could help you
put the pieces in place.
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See how SoFi Invest® could help you put the pieces in place.
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Make SoFi Invest® your option
for trading options.
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No commissions and no contract fees.
Focus on trades, not contract fees—SoFi doesn’t have them. Other fees may apply. But not commissions.
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Easy-to-use trading platform.
Our intuitive website and mobile app are upgrading with simpler onboarding, real-time pricing, and more.
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Expanded options strategies.
Available Now: We’re upgrading our app to provide strategies that could help support investors with income-generation goals.
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A treasure trove of educational resources
Our Options 101 guide and SoFi Learn articles could help you understand basic strategies before you start trading.
Get started
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You asked, we answered.
Put more tools in your options toolbox.
SoFi Invest® will soon expand options trading, offering access to Level 1 strategies in addition to current Level 2 availability. Approved investors can access all levels at once, all in our easy-to-use app.
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Level 1
- A suitable starting place for options
- May require ownership of the stock in 100-share contracts.
- Maximum risk is capped at opportunity costs or the potential drop in the underlying stock.
- Often used for income generation or to help reduce risk in a portfolio.
Strategies
- Sell a covered call to potentially earn extra income from your shares. You’d need to be okay with capping potential gains if the stock moves sharply higher. And you’d need to own 100 shares.
- Sell a cash-secured put to potentially earn income now. You’d need to be okay with buying the stock at a set price if it drops below the strike. And you’d need to set aside enough cash to buy the shares at the strike price if the contract is assigned.
Potential benefits
- Could help generate potential income from existing stock you own.
- Could lower your net cost of owning stock.
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Level 2
- For experienced investors
- Typically suited for investors who understand the mechanics, potential benefits, and risks of options trading.
- Maximum risk is the price of the options contract.
Strategies
- Buy a call option to leverage bullish views that the stock’s price will rise.
- Buy a put option to leverage bearish views that the stock’s price will fall, or as a form of insurance to protect against a decline in stock you own.
Potential benefits
- Provides flexibility to leverage investment views on a security.
- Potential for higher percentage gains from smaller stock price movements.
- Potential to allow investors to take a position on a stock with a smaller amount of money, freeing up capital for other investments.
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Level 1
- A good starting place for options
- May require ownership of the stock in 100-share contracts.
- Maximum risk is capped at the potential drop in the underlying stock, similar to other assets in your portfolio.
Strategies
- Sell a covered call to potentially earn extra income from your shares. You’d need to be okay with capping potential gains if the stock moves sharply higher. And you’d need to own 100 shares.
- Sell a cash-secured put to potentially earn income now. You’d need to be okay with buying the stock at a set price if it drops below the strike. And you’d need to set aside enough cash to buy the shares at the strike price if the contract is assigned.
Potential benefits
- Could help generate income from existing stock you own.
- Could lower your net cost of owning stock.
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Level 2
- Recommended for those with more experience
- Suggested for investors who understand the potential benefits and risks of options trading.
- Maximum risk is the price of the options contract.
Strategies
- Buy a call option to leverage bullish views that the stock’s price will rise.
- Buy a put option to leverage bearish views that the stock’s price will fall, or as a form of insurance to protect against a decline in stock you own.
Potential benefits
- Provides flexibility to leverage investment views on a security.
- Potential for higher percentage gains from smaller stock price movements.
- Potential to allow investors to take a position on a stock with a smaller amount of money, freeing up capital for other investments.
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How SoFi stands out.
SoFi Invest® online options trading has no contract fees and no commissions. Plus, our in-app coaching resources, tools, and real-time pricing can help you choose your strategy and make informed decisions.
Other fees may apply—see a full list here. Information is from competitor websites as of September 2025. Consider the full range of services offered by all firms before making a decision.
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Answers to questions—
all in one place.
Finding organized resources for options trading can be tough. Consider our educational content hub your one-stop-shop for all things options.
Learn more
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FAQs
Log in to your SoFi account and navigate to the Invest tab. From there select your Individual active investing account > Manage > Options trading.
When buying options (like long calls or long puts), the maximum loss is limited to the premium paid for the option. This allows investors to participate in movement of the market that may be in their favor, while the loss is limited to the premium paid.
We’re required to evaluate whether various levels of options strategies are appropriate for members, based on information such as trading experience, investment objectives, risk tolerance, and financial situation. Different brokerages are able to set specific parameters (e.g., account equity) based on their discretion. If you’re approved to trade options at SoFi, you can execute covered calls, cash secured puts, long calls and long puts.
You can reapply after 7 days if you believe you made a mistake in answering the questions. If you apply for a second time and do not get approved again, you must wait 90 days before applying for a third time.
There are several option trading levels, each of which allows additional access to various forms of options trading based on the experience, risk tolerance and investment objectives. Option levels are an industry standard way to determine how much risk a client should be allowed to take, with level 1 being lower risk strategies and higher levels having riskier options.
SoFi currently supports level 2 options execution, which means you can buy long calls and long puts, and sell to close positions. All approved accounts are assigned to level 2 options strategies by default. Level 1 capabilities (selling covered calls and cash secured puts) are coming soon and will automatically be added as soon as they are available.
Level 1: covered calls and cash secured puts
Trading level 1 is the lowest level and it typically only permits two types of trades: a covered call sold against a long stock position in your account and a cash secured put to sell a position, while setting aside enough cash to buy the underlying stock.
Level 2: long options
Trading level 2 adds the ability to buy call options and put options. This is typically the level that most beginners are allowed to start with.
The key difference between level 1 and level 2 is that traders are able to make directional bets with level 2. And since they can only buy and not write options, a trader’s risk is limited to only the money used when buying the options.
Options in IRA accounts are coming soon.
1. Log in to your SoFi account, navigate to the Invest tab, and select your Individual active invest account.
2. Tap the magnifying glass to search.
3. Tap “Trade” on the detail page for the stock or ETF.
4. Tap “Trade options” and use the option chain search to view information about marketable options for a security.
There are many things to consider when choosing an option:
■ The expiration date is displayed just below the strategy and underlying security. You can scroll right to see expirations further into the future.
■ The strike prices are listed high to low—and you can scroll up or down to see different strike prices.
■ The break-even point is where the underlying security needs to trade at expiration for you to break even on your investment, taking into account the current value (premium) of the option.
■ The break-even percentage is the percentage change the underlying security would need to move for you to break even on the option at expiration.
■ The premium (price) is listed on the right of your screen.
■What’s the price? The value shown is the mark price (see below).
In addition to the above options characteristics, you should consider other elements such as your market outlook and risk tolerance when selecting an options contract.
When you buy a call, you pay the option premium in exchange for the right to buy shares at a fixed price (strike price) on or before a certain date (expiration date). Investors often buy calls when they are bullish on a stock or (other security) because it offers leverage.
You should always research the security and consider the amount of premium outlay, the strike price, and the expiration (as the longer the time to expiration, the higher the option premium). When buying a call there is unlimited upside potential, and the premium (price) paid for the option is the maximum you can lose.
Buying a put option is used to express a bearish view (which means you expect the stock price to fall below the strike price).
A put option gives the buyer the right to sell an underlying asset at a specified price on or before a certain date. Buying a put option is used to express a bearish view (which means you expect the stock price to fall below the strike price). Keep in mind that the maximum loss being the premium paid for the option.
You can visit our Support Center Articles here to learn more about Options here.
See all FAQs
Explore your options.
Trading options online with SoFi means no commissions or contract fees (other fees may apply). And our redesign gives you more possibilities based on your experience and risk tolerance—all on one simple, powerful app.
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