Webull Options Spreads
If you are a stock, index, or ETF option trader, you likely already know how option spreads can help your portfolio and profit potential.
Using option spreads like butterflies, credit spreads, debit spreads, iron condors, and other available strategies, allows you to take advantage of the different traits of constantly changing markets.
Webull offers
option spread trading, and it is fairly easy to use the broker’s software to build and submit multi-leg strategies.
Read on to learn more about how to trade option spreads at Webull.
Types of Options Spreads Available at Webull
Whatever your strategy and goals happen to be, there are advanced option strategies at Webull that may fit. Whether you want to sell premium, trade a directional move, take advantage of a large move in either direction, or try to profit from a stock moving sideways, Webull has a wide selection of choices.
You can create the following option spreads at Webull:
- Straddle
- Strangle
- Credit spread
- Debit spread
- Butterfly
- Condor
- Iron Butterfly
- Iron Condor
- Calendar
- Diagonal
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How to Place Option Spread Orders on Webull
Placing an option spread order on Webull is an easy process. The trading platforms build the spread for you after you choose your preferred strategy and strike price. From there, you only need to adjust the order details to match your needs.
The first step to creating an advanced option spread order is to select the desired spread from
the option chain.
Once selected, the option chain will populate with strikes related to the selected option spread strategy. To change the distance between strikes, you will need to edit the width in the dropdown menu.
Alternatively, you can change the width in the order box below.
It is also possible to modify the option spread type from the order box by selecting the spread type menu.
Once you have selected the spread type and width that is appropriate for your strategy, make sure that you have the correct expiry date, quantity, and order type selected.
There are some order settings that you can make default through the trade settings menu. One of note is the option contract quantity. By default, it is set at 10 contracts per trade, but you can set it to any number that you wish.
Finally, if you would like to see a visualization of the risk profile of your chosen strategy, there is an option for that as well. An added bonus to using the visualizer is that all the associated order modification options are placed together to make things easier.
Differences Between Webull Trading Platforms
Depending on the Webull platform that you are accustomed to trading on, your experience can vary.
The desktop trading platform and mobile apps offer the same advanced-strategy functionality. You can choose the spread type you want, adjust the width of the option legs, and leg out of positions from the open positions screen.
The browser platform is another story, however. You can place options trades, but
advanced strategies are not supported on the web version. Therefore, it is advisable to use the desktop platform or mobile app if you would like to trade option spreads at Webull.
Pros and Cons of Trading Option Spreads at Webull
There are several reasons to enjoy the experience of trading option spreads at Webull, but there are also some areas that could use improvement.
Pros
Webull offers $0 commissions on many options trades. Advanced spread trades can be placed without a standard options commission, although certain index options and oversized orders may still have per-contract fees.
The automated spread population in the order chain is convenient and makes building advanced option spread strategies straightforward and easy.
The option spread risk visualization is simple yet effective.
Cons
Making adjustments to the legs of an order can be a bit tricky for traders who are new to the platform.
The lack of advanced option spread order placement on the browser trading platform is an inconvenience for some.
Webull Option Spreads Summary
Webull offers many useful tools for trading option spreads in a convenient and informed way.
There are descriptions for each spread type available for anyone needing a bit of education on
the topic. Also useful is the simplified spread selection and modification options.
While it would be nice to have a bit more freedom in creating spreads (like selecting legs one by one to create spreads manually), all the necessary tools are available.
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Updated on 4/17/2026.
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