How To Trade Options in WeBull

WeBull is a relatively new trading platform that offers commission-free trading for people who want to get involved in day trading. Platforms like this have democratized options trading for millions of ordinary Americans.

Creating Your WeBull Trading Account

The first step to trading options on WeBull is to register and have your account approved. This is a more involved process than starting a new email account or a social media profile. Though this might sound a bit intimidating, it's not really that difficult. According to U.S. law, all brokers must ask you certain questions about your investment experience. You might also have to answer a few questions about your personal risk tolerance. If you are honest, you should have no problem here. So long as you acknowledge that options trading involves risk, you should get through this process easily.

Keep in mind that these questions are designed to dissuade would-be investors with no appetite for risk. Some questions might make options trading sound riskier than it really is. Stay positive in the knowledge that you are following a path that has helped thousands of people achieve financial independence. After answering these preliminary questions, you then simply need to give your name, address and a few other personal details. WeBull is a trustworthy company that is certain to safeguard your private information.

Finding the Right Stock

After you're approved for trading, you'll want to take a look at the market and decide which stock you want to invest in. If you are betting that a stock price will go up, you purchase a call option. If you suspect the stock price will fall, then you'll need a put option. Advanced options traders make more complicated trades called spreads. At least in the beginning, simple put and call options should prove sufficient for your purposes. Stock picking is more of an art than a science. Even if you engage in extensive research, stock prices can rapidly change in ways that are impossible to predict. As long as you stay humble and realistic about risks, you should be able to make a decent profit through options trading.

Completing Your Order and Purchasing Your Contract

Once you've picked your stock and the type of option you want, you'll set an expiration date for the option. Then click on the "Place Order" button in WeBull's user interface. You'll have to follow a few simple prompts to complete the trade. From that point, you simply wait and see how the trade develops. If you've picked the right stock and the right option, you'll accrue a healthy profit. There is no single infallible options strategy that will work every time you trade options on WeBull. However there are certain guiding principles that can collectively help you avoid losing money.

According to the experts at Money Morning, WeBull "is a great way for beginner traders to get their feet wet." If you've always dreamed of becoming a day trader, WeBull could be the perfect tool to help you turn your dreams into reality.