❓ What options strategies can I trade on Gotrade?
Currently, Gotrade supports Long Call and Long Put options trading only. These are straightforward strategies where you pay a premium to gain exposure to price movements of US stocks or ETFs.
📈 What is a Long Call?
A Long Call is a bullish options strategy. You pay a premium to buy the right (but not the obligation) to purchase a stock at a fixed price (strike price) before a specific date.
You benefit when the stock price rises above the strike price.
📉 What is a Long Put?
A Long Put is a bearish options strategy. You pay a premium to buy the right (but not the obligation) to sell a stock at a fixed price before a specific date.
You benefit when the stock price falls below the strike price.
⚠️ Can I lose more than I invest?
No. Your maximum loss is limited to the premium you pay for the options contract. There is no leverage or margin involved.
🚫 Can I sell (write) options on Gotrade?
Not at this time. Selling or writing options (short options) involves unlimited risk and requires margin. For now, Gotrade only supports buy-to-open positions for Long Call and Long Put.
🌍 Who can trade options on Gotrade?
Only users with a Gotrade Global (GTG) account who have completed the Options Agreement form are eligible to trade options.
📱 Where can I access the options trading feature?
You can find eligible stocks with options support via the Options button after clicking the trade button on the stock detail page in the Gotrade app. From there, you can view available contracts and execute Long Call or Long Put orders.
🧾 What happens when my options contract expires?
If your option expires out-of-the-money, it will expire worthless.
If your option expires in-the-money, you will receive the cash payout (not the stock).
💬 I still have questions. Where can I get help?
You can reach our support team anytime by clicking the Intercom chat bubble in the app or by emailing us at support@heygotrade.com.