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The Lowest Options Trading Fees Brokers in 2025
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$0 per contract and $0 base
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Webull is among the cheapest brokers for trading options. The firm has no base commission, no per-contract fee, and no assignment or exercise fee. You pay nothing to open or close a contract, so more of each profit stays in your pocket.
Another big benefit is Webull’s low margin rates: from 4.74% on very large debits to 8.74% on balances below
$25k. These rates are 2–4 percentage points lower than most competitors, making leveraged trades cheaper.
You can add options trading with the mobile app. On the app’s bottom menu, tap the center icon (the bull horns), then the circle with three dots (“More”). On the next screen choose “Options Trading” under “Account” and follow the prompts; approval usually takes less than a day.
Read full Webull options trading review »
Up to $7,500 cash and 20 FREE shares when you make a deposit at Webull.
Visit Webull Website
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$0 per contract and $0 base
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Firstrade is the lowest-priced online broker in the business. Its options costs are $0 base and $0 per contract.
On Firstrade’s simple website, there are three ways to place an options order. First, click “Trading” in the top menu, pick “Options,” and fill out the ticket. You choose strike, number of contracts, action (buy or sell, open or close), and call or put. Links to chains and an expiration-date calendar sit on the same page.
Second, use the trade bar at the screen’s bottom. Press the two blue arrows to expand it, then switch the left-side toggle from “Stock” to “Option.” Option chains open above the bar, showing calls, puts, spreads, and straddles. Greek values calculate automatically, and clicking a bid or ask fills the ticket below.
Third, use OptionsPlay—powerful software packed with ideas. Type a symbol, then click “I’m Bullish” or “I’m Bearish” for suggested trades with profit-and-loss diagrams. Choose a strategy and an order ticket appears. Access OptionsPlay by clicking “Options Wizard” in the chains window.
During testing, OptionsPlay proved the easiest way to trade derivatives at Firstrade.
Trading Options on the Mobile App
Firstrade has no desktop program, but its mobile app supports options. On a stock page tap “Trade Options,” pick an expiration, then tap a price to open a ticket. Some fields auto-fill; you choose the rest. Multi-leg strategies are not on the app.
3% match on contributions and 2% on transfers with a No-Fee IRA.
Visit Firstrade Website
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How to Trade Options Before Earnings or News Release
Picking a simple strategy before earnings can be tricky. Many traders just buy calls or puts; some buy both (a straddle or strangle) hoping a big move in either direction brings profit.
Limited Risk – High Reward
Buying calls or puts limits risk to the premium paid. If an Apple call costs $100, the most you can lose is $100, with room for a larger gain if Apple moves sharply.
The challenge is that demand for options climbs before earnings, driving premiums much higher. Protection buyers and speculators crowd the market, raising prices.
Being the Bookie
Over time, the party taking bets usually wins. Costly options favor sellers. After earnings, demand and premiums drop, so even well-hedged buyers struggle to profit once the “unknown” premium disappears.
The obvious answer is to sell options—but naked selling carries unlimited risk few traders (or brokers) will accept.
Credit Spreads
To capture rich premiums while capping risk, many traders use “bull put credit” or “bear call credit” spreads. Search online for setup details; this guide focuses on squeezing the most profit from those spreads by unwinding them.
Unwound
Once earnings hit and the market digests the news, option prices snap back to normal. Closing the spread then locks in the premium collected before the announcement. It will not work every time, nor make a fortune on its own, but it can succeed often enough to add worthwhile profit.
Updated on 4/22/2025.
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 25 years, and has a background in both applied math and programming.
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