Most brokerages use Options Levels to help investors understand the complexity and risks of different Options strategies, and help educate investors to prevent them from engaging in risky strategies that do not align with their stated investment objectives and/or experience levels.

Prior to granting you Options trading access on Public, we’re required to evaluate whether various levels of Options strategies are appropriate for customers, based on information such as your equities & Options trading experience, investment goals, financial situation, and risk tolerance. Each brokerage has the discretion to set the specific parameters for their customers.

At Public, our Options levels provide access to different kinds of Options strategies. Our levels are:

Level 1

Covered Calls

Cash-secured Puts

Level 2

All Level 1 Strategies

Long Calls

Long Puts

Straddles, Strangles, and Collars (Coming in Q2 to Public)

Level 3

All Level 1 & 2 Strategies

Spreads, Butterflies, and Condors (Coming in Q2 to Public)

Level 4

Level 1 - 3 Strategies

Naked Calls & Puts (currently unavailable)

If Public does not approve you for Options trading:

In some instances, Public may not be able to approve you for options trading during Options onboarding. Reasons may include:

For further questions please contact Member Support via in-app chat or email at support@public.com.