SoFi is making options trading more accessible with no commissions, no contract fees, and built-in education to help members pursue risk-adjusted strategies.
SoFi, the one-stop shop for digital financial services, today announced that Options Level 1 has started rolling out to SoFi Invest members and will be available to all eligible members in the coming weeks. This expansion builds on SoFi’s comprehensive investing offering and provides members with foundational investment strategies and tools to build portfolios that align with their financial goals.
SoFi members approved for options trading will be able to access Options Level 1 strategies, including covered calls and cash-secured puts, in addition to the Options Level 2 strategies already available. These allow members to better manage their portfolio, generate premium income, enter new positions, and hedge existing ones to manage risk. Members can apply for Options Level 1 trading directly in the SoFi app and access a library of educational resources explaining how options work, the risks involved, and how to integrate them responsibly into a diversified investment strategy.
“One of the most consistent requests we heard from SoFi Invest members was access to Options Level 1 and we’re thrilled to deliver on that demand,” said Anthony Noto, CEO of SoFi. “By expanding access to options trading and embedding education directly into the experience, members can responsibly diversify their strategies and pursue their long-term financial goals with confidence, all within SoFi’s one-stop shop.”
SoFi plans to expand capabilities for members to align their investments with their unique financial ambitions, with a roadmap that includes additional options levels and strategies, options trading in IRAs, and zero day to expiration contracts. The company also plans to expand tools and data for options screening and strategy building, profitability of profit calculations, and better chain navigation alongside margin enhancements.
SoFi is also removing fees associated with options exercise and assignment in order to deliver a more transparent trading experience, eliminate friction, and reduce costs for active options traders.
These innovations build on a year of rapid growth in SoFi Invest’s capabilities, offering a wide range of advanced investment opportunities for a new generation of investors. Members gained access to private markets with funds from Fundrise, Cashmere, and Liberty Street Advisors, which offer exposure to various companies like OpenAI, Discord, and Epic Games. SoFi has also partnered with Templum to give members access to privately held companies via the Cosmos Fund, with asset classes offering sole exposure to top tech companies including SpaceX, Databricks and xAI, as well as the Pomona Investment Fund and StepStone Private Markets Fund.
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