SoFi Introduces Options Level 1 Trading

SoFi Technologies ($SOFI) announced Thursday that SoFi Invest members can now trade covered calls and cash-secured puts, expanding its platform beyond the existing Options Level 2 strategies.

According to the company, these tools enable investors to:

Manage portfolios more effectively
Generate premium income
Enter new positions strategically
Hedge existing trades to manage risk

Members can apply for Options Level 1 access directly via the SoFi app, which also integrates educational resources to guide investors on the mechanics, risks, and benefits of options.

Leadership Commentary

CEO Anthony Noto said:

“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. 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.”

Future Roadmap

SoFi also outlined upcoming features designed to broaden its options capabilities:

Additional options levels and advanced strategies
Options trading inside IRAs
Zero-day to expiration (0DTE) contracts
Enhanced tools for screening and profitability analysis

The rollout of Options Level 1 will reach all eligible SoFi members in the coming weeks.