Options trading is not turned on by default in Robinhood — you have to request it through the app
When you open a Robinhood account, you can buy and sell stocks and ETFs right away. Options trading is different. Robinhood requires you to go through a separate setup process and answer questions about your experience before you can place an options trade. The whole process takes place inside the app and usually takes a few minutes, though Robinhood may take up to 48 hours to review your request.
This guide walks you through the steps to request options access, what information Robinhood will ask for, and what happens after you submit your request.
Key Takeaways
- You request options access from the Account menu in the Robinhood app by selecting Investment Profile and then Options Trading.
- Robinhood asks about your investment experience, annual income, and net worth to determine which options level to grant you.
- There are four options levels, ranging from covered calls and cash-secured puts (Level 1) to spreads and naked calls (Level 4).
- Robinhood usually approves or denies your request within minutes, but may take up to 48 hours in some cases.
- If you are denied, you can reapply after 30 days or contact Robinhood support to ask about your denial.
Where to find the options request in the app
Open the Robinhood app and tap the Account icon at the bottom right of the screen. From there, scroll down and look for a section called Investment Profile. Tap that, and you should see an option labeled Options Trading. Tap it to begin the request process.
If you do not see Options Trading listed, your account may already have options access turned on. You can check by searching for any stock in the app — if options are available, you will see an Options tab next to the Price and News tabs when you view a stock detail page.
What Robinhood asks about your experience
Robinhood will ask you several questions about your investment background. These include how many years you have been investing, whether you have traded options before, and how often you trade stocks. Be honest in your answers — Robinhood uses this information to decide which options level to grant you, and providing false information could result in your request being denied or your account being restricted later.
You will also be asked about your annual income and net worth. Robinhood uses these figures to make sure you have the financial capacity to trade options, since options involve more risk than buying stocks outright. Again, answer truthfully. Robinhood may verify this information, and discrepancies can trigger a denial.
Understanding the four options levels
Robinhood grants options access at one of four levels, depending on your experience and financial profile. Level 1 is the most restrictive and Level 4 is the least restrictive.
| Level | What You Can Trade |
|---|---|
| Level 1 | Covered calls and cash-secured puts only |
| Level 2 | Spreads (vertical spreads, calendar spreads, diagonal spreads) |
| Level 3 | Straddles, strangles, and other multi-leg strategies |
| Level 4 | Naked calls and naked puts (selling options without owning the underlying stock) |
Most new options traders are granted Level 1 or Level 2. If you have significant options experience and a strong financial profile, you may receive Level 3 or Level 4. You can request a higher level later if you want to trade more advanced strategies.
What happens after you submit your request
After you answer all the questions and submit your request, Robinhood will review it. In most cases, you will receive a decision within minutes. You will see a message in the app telling you whether your request was approved or denied. If approved, options trading will be turned on when ready, and you can start placing options trades right away.
If Robinhood denies your request, the app will tell you why. Common reasons include insufficient investment experience, low income or net worth relative to the options level you requested, or inconsistent answers in your profile. You can reapply after 30 days. If you want to understand why you were denied, you can contact Robinhood support through the app.
How to start trading options once access is turned on
Once options access is approved, search for any stock in the Robinhood app and tap on it. You will now see an Options tab at the top of the stock detail page. Tap Options to see the available contracts for that stock. You will see call and put options listed by expiration date and strike price.
Tap any contract to see more details, including the bid price (what buyers will pay), the ask price (what sellers are asking), and the Greeks (delta, gamma, theta, and vega — measures of how the option price will move). When you are ready to place a trade, tap the contract and then tap Buy or Sell. Robinhood will show you the current price and ask you to confirm the trade before it goes through.
Requesting a higher options level later
If you start with Level 1 or Level 2 and later want to trade more advanced strategies, you can request an upgrade. Go back to Account > Investment Profile > Options Trading and look for an option to request a higher level. Robinhood will ask you updated questions about your experience and may approve you for a higher level based on your trading history and updated financial information.
Keep in mind that requesting a higher level does not may provide approval. Robinhood will review your request and may deny it if they believe you do not have enough experience or financial capacity for the higher level yet.
Frequently Asked Questions
Can I trade options right after I open my Robinhood account?
No. You must first fund your account with at least $2,000 in cash or securities, then request options access through the Investment Profile menu. Robinhood will review your request, which usually takes a few minutes to 48 hours.
What if Robinhood denies my options request?
You can reapply after 30 days. Before you reapply, contact Robinhood support to understand why you were denied. You may need to gain more investment experience, increase your income or net worth, or provide more consistent answers about your background.
Do I need a certain amount of money in my account to trade options?
Robinhood requires a minimum of $2,000 in your account to trade options. Some options strategies, like naked calls or puts, may require additional buying power depending on the strike price and expiration date of the contract.
Can I downgrade my options level if I change my mind?
Yes. Go to Account > Investment Profile > Options Trading and you should see an option to downgrade your level. Downgrading takes effect when ready.
What happens if I lie about my investment experience?
Robinhood may discover inconsistencies when reviewing your account activity or if you contact support. False information can result in your options access being revoked or your account being restricted. Always answer honestly.