Webull Options Spreads
If you trade stock, index, or ETF options, you probably already understand how option spreads can help with portfolio strategy and return potential.
Using options spreads such as butterflies, credit spreads, debit spreads, iron condors, and other available strategies can help traders respond to different market conditions as prices change.
Webull offers option spread trading, and the broker’s trading software makes it fairly simple to build your own spread strategies once your account has the required approval level.
Read on to learn more about placing option spread trades at Webull.
Types of Options Spreads Available at Webull
Whatever your strategies and goals may be, Webull offers several option spreads that can fit different market views. Whether you want to sell premium, trade a directional move, benefit from a large move in either direction, or position yourself for a stock to stay within a range, Webull has multiple choices available.
You can create the following option spreads at Webull, subject to account type, approval level, and product limitations:
- Straddle
- Strangle
- Vertical
- Butterfly
- Condor
- Iron Butterfly
- Iron Condor
- Calendar
Webull Promotion
Open Webull Account
How to Place Option Spread Orders on Webull
Placing an option spread order on Webull is a straightforward process. The desktop and mobile platforms can build the spread after you choose the strategy type and strike information. From there, you can adjust the order details to match your trading plan.
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 change the option spread type from the order box by selecting the spread type menu.
Once you have selected the spread type and width that fit your strategy, make sure that the correct expiration date, quantity, and order type are selected.
Some order settings can be saved as defaults through the trade settings menu. One important example is the option contract quantity. By default, it is set at 10 contracts per trade, but you can adjust it to the number you want.
Finally, if you want to review a visual display of your chosen strategy’s risk profile, Webull provides that option as well. A useful benefit of the visualizer is that related order-adjustment tools are grouped together to make the process easier.
Differences Between Webull Trading Platforms
Your experience can vary depending on which Webull platform you use for trading.
The desktop trading platform and mobile apps support advanced options strategies. You can choose the spread type you want, adjust the width of the option legs, and leg in or leg out of certain strategies through the platform.
The browser platform is different. You can place options trades on Webull, but advanced options strategies are not supported on the web version. For that reason, the desktop platform or mobile app is the better choice if you want to trade option spreads at Webull.
Pros and Cons of Trading Option Spreads at Webull
There are several reasons to like trading option spreads at Webull, although a few areas could still be improved.
Pros
Zero-commission options trading is still an important benefit. At Webull, traders can place stock and ETF option trades with no commission and no contract fee, although certain index options, oversized option orders, regulatory fees, and exchange fees may still apply.
The automated spread setup in the option chain is convenient and can make advanced option spread strategies easier to build.
The option spread risk visualization tool is simple but useful.
Cons
Adjusting individual legs of an order can be a bit confusing 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 traders.
Webull Option Spreads Summary
Webull offers many useful tools for trading option spreads in a convenient and informed way.
The platform provides descriptions for each spread type, which can help anyone who needs a quick review of
the strategy. Also useful are the simplified spread selection and order-modification tools.
While it would be helpful to have more flexibility in creating every type of spread, such as manually selecting each leg for all strategies, Webull provides the main tools needed for many spread traders.
Webull Promotion
Open Webull Account
Updated on 5/4/2026.
Continue Reading