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Investing.com -- SoFi has announced the rollout of Options Level 1 trading, expanding access to foundational options strategies for its investing members.
The new feature is commission-free, with no contract fees, and includes built-in education designed to help users pursue risk-adjusted investment strategies.
The launch, announced Thursday, allows approved SoFi Invest members to trade covered calls and cash-secured puts in addition to the Options Level 2 strategies already available on the platform.
According to the company, these tools can help members “better manage their portfolio, generate premium income, enter new positions, and hedge existing ones to manage risk.”
The company added that members can apply for Options Level 1 trading directly through the SoFi app and access educational materials explaining how options work, the risks involved, and how they can be integrated into diversified investment strategies.
“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, SoFi’s chief executive officer.
“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.”
The company said Options Level 1 will be available to all eligible members in the coming weeks.
Looking ahead, SoFi plans to broaden its capabilities with additional options levels and strategies, options trading in IRAs, zero-day to expiration contracts, and enhanced tools for screening and profitability analysis.