Strategies and Multi-Leg
17 answered questions
Strategies and Multi-Leg
Growth allows full multi-leg structures and undefined risk. Express is buy-only on single-leg long calls and long puts.
Multi-leg on Growth
Can I trade spreads or multi leg strategies?
It depends on your plan. Growth allows buy and write strategies, including multi leg strategies. Express is buy only. See the Rules page.
Can I sell options?
It depends on your plan. Growth allows selling options and undefined risk positions. Express is buy only.
Can I trade iron condors?
Yes on Growth. Not on Express.
Can I trade credit spreads?
Yes on Growth. Not on Express.
Can I trade calendar or diagonal spreads?
Yes on Growth. Not on Express.
Can I trade butterflies and broken-wing butterflies?
Yes on Growth. Not on Express.
Can I trade naked short options?
Undefined risk is allowed on Growth. Not on Express. Drawdown still applies, so naked positions must fit within your floor.
Buy-only on Express
What is "buy-only" on Express?
Express allows long calls and long puts. You cannot sell options on Express. No credit spreads. No naked shorts.
What is "Level 5 options access"?
Level 5 covers the most permissive options approvals at a typical brokerage: long, short, spreads, undefined risk. Growth carries this level. Express is buy-only.
What is the smallest options trade I can place?
One contract. There is no minimum trade size beyond standard exchange constraints.
Can I trade weekly options?
Yes. Weekly options on whitelisted tickers are tradable.
Can I roll a losing position?
Yes. Closing a losing leg and opening a new strike or expiration is a normal multi-leg roll. Standard rules apply.
Can I leg into a multi-leg trade?
Yes, on Growth. The platform supports multi-leg order entry, but legging in manually is allowed. Drawdown and consistency rules still apply.
Can I trade 0DTE iron condors?
Yes on Growth. Both legs of the condor must be on whitelisted tickers and expiring positions are auto-closed at 4pm Eastern.
What is pin risk and how do you handle it?
Pin risk is when an option closes very near the strike at expiration; assignment is uncertain. Our 4pm auto-close on expiration day removes pin risk on simulated accounts.
Can I trade very far out-of-the-money strikes?
Yes. Strike selection is your choice within the whitelisted tickers. Drawdown and consistency rules apply regardless of how far out-of-the-money you trade.
Can I open new strategies while waiting for a payout review?
Yes. Trading continues during payout review. Drawdown and rules still apply, so be mindful that a breach can close the account before payout clears.