How Do I Buy Options on WeBull?
WeBull is a platform where you can trade options on the web and app. There are many ways to buy options on WeBull, but they all require careful planning. This article will show you how to buy call and put options through the WeBull app or website.
1. Choose the Security
- Choose which security you want to trade options.
- Select the stock market to trade in.
- Choose the expiration date for your options.
2. Click Trade Options
You will first need to click Trade Options. Select Single Leg Options Order and then click on Single.
3. Select Spread
Next, under Order Type, select Spread. Creating a spread order involves selling one security and buying another to lower your risk. Spread orders do not require commissions from WeBull. However, depending on how much money you are willing to spend on spreads, each spread order may incur commission fees from your brokerage firm at the time of execution.
4. Select From the Options
The screen will now display all the options you can buy on WeBull — from stock options to commodity options and everything in between. You can scroll through the list until you find what you're looking for, then click on it to see more details about that specific option type.
To continue through the buying process:
- Select Buy Call or Buy Put.
- Choose your expiry date.
- Enter your desired strike price.
5. Select the Number of Contracts
You can find two ways to buy options on the WeBull platform. The first requires buying a single contract. The second lets you purchase multiple contracts. The number of contracts you purchase will depend on the stock price and volatility, as follows:
- To find out how many contracts are available for sale, click Buy Options under Trade.
- From there, enter your investment amount and let it automatically calculate how many shares can purchase.
6. Review Your Order
Review your order details. You'll find a confirmation screen where you can review option prices, quantities and expiration dates before confirming your order.
7. Get Ready for the Market Open
Now that you have a good grasp of the mechanics, it's time to place your trade by clicking on Click Place Order.
When the market opens, you will see your orders and all the options WeBull offers at that time. Once again, ensure you have enough funds to cover both sides of the options trade if necessary.
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