Earn an $0.18 rebate per contract traded*

  • No commission fees
  • No per-contract fees

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Options trading on Public

Research, build, and execute options trading strategies with the investing platform that minimizes your transaction costs.
Options Highlights

Uncover trading opportunities

Explore the markets with a sophisticated suite of research and technical analysis tools.

Build your options strategies

Plan single and multi-leg options strategies with our comprehensive strategy builder.

Stay on top of every trade

Closely monitor all of your options positions from our intuitive trading experience.

Significantly reduce your transaction costs

At Public, we've always worked to get you the best possible price execution. That's why, in an industry first, we’re sharing our options revenue directly with you, the customer. Every time you place an options trade on Public, you can get 50% of our options revenue, minimizing your transaction costs.
Options Disclosures
PFOF rebates are only issued for options trades that are subject to PFOF. Public Investing shares 50% of the estimated order flow revenue as a rebate to help reduce trading costs on options. For more information, see our Fee Schedule and FAQs on PFOF Rebates.

The cheapest way to trade options

We share our options revenue with you on every trade, reducing your trading costs.
Other fees may apply.
Est. cost per contract+$0.15 Instead of paying to trade, you get something back.-$0.03-$0.67 to $0.69-$0.66
Options revenue rebateYou earn $0.18 per contractNoneNoneNone
Commission Fees$0$0$0$0
Per-Contract Fees$0$0$0.65$0.65
Exchange & Regulatory Fees$0.03$0.03$0.02 to $0.04$0.01
Est. cost per contract+$0.15 Instead of paying to trade, you get something back.-$0.03-$0.67 to $0.69-$0.66
Options revenue rebateYou earn $0.18 per contractNoneNoneNone
Commission Fees$0$0$0$0
Per-Contract Fees$0$0$0.65$0.65
Exchange & Regulatory Fees$0.03$0.03$0.02 to $0.04$0.01

Costs accurate as of December 22, 2023. All costs are rounded to the nearest cent. Support for claims, comparisons, statistics, or data will be supplied upon request.

Options Disclosures
Please note: Public doesn't charge per-contract fees. However, there are regulatory fees assessed for certain options transactions. See our fee schedule to learn more.

Competitor trade cost data as of December 22, 2023 and subject to change. While the information is deemed reliable, Public makes no representations or warranties with respect to the accuracy or completeness of the information provided. All investments involve risk, including the possible loss of principal.

Trading options involves significant risk and is not appropriate for all investors. To learn about risks, read the OCC’s Options Disclosure Document. Not included in this comparison are regulatory transaction fees and trading activity fees. These fees are set by our regulators, and are subject to change without notice. Most brokers, including ones in this comparison, pass on these fees to their customers on certain sell orders. For more information, please see Public's Fee Schedule.

Plan your trades with our strategy builder

With our options strategy builder, you can plan your trades based on your outlook on a stock and visualize your potential profit and loss outcomes. Learn more.
Options Disclosures
Options are not suitable for all investors and carry significant risk. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options, such as spreads, straddles, among others, as compared with a single option trade. Prior to buying or selling an option, investors must read the “Characteristics and Risks of Standardized Options”, also known as the options disclosure document (ODD) which can be found here.

Fundamentals

Buy or sell single-leg options strategies.

Straddles and strangles

Buy a call and a put with the same (straddle) or different (strangle) strike prices.

Vertical spreads

Buy and sell two options of the same type (calls or puts) with different strike prices.

Calendar spreads

Buy and sell two options of the same type (calls or puts) with the same strike price but different expirations.

*Coming soon

Visualize every outcome of your trades

Our interactive profit and loss charts can help you visualize the potential outcomes of your trades to better understand your risk/reward balance.
Options Disclosures
This feature provides hypothetical profit and loss based on the conditions in the market when you select a contract to be visualized, and does not guarantee future results. No contract has been bought or sold. The P&L charts are for informational purposes only and should not be considered a personalized recommendation or investment advice. Actual profits or losses may differ based on a number of factors not accounted for in these assumptions.

Analyze your trades with advanced charts

Our advanced charts are equipped with hundreds of built-in technical analysis indicators to help you evaluate risk, volatility, and performance.
Options Disclosures
This feature provides a visualization of numerous datapoints related to a given options contract. The data is provided on an as-is basis and does not guarantee accuracy. The advanced charts are for informational purposes only and should not be considered a personalized recommendation or investment advice.

Discover trading opportunities in your Options Hub

Within your Options Hub, you can explore the most actively traded options contracts, track earnings dates directly on the options chain, and more.
Options Disclosures
This feature provides lists of options contracts based on quantitative methodological screens. The data is provided on an as-is basis and does not guarantee accuracy. The Options Hub and all screens are for informational purposes only and should not be considered a personalized recommendation or investment advice.

Explore our options resource center

We have created a comprehensive library of guides to options trading strategies—from the fundamental building blocks to more advanced tactics.
Options Disclosures
This feature provides educational materials and videos related to options. The data is provided on an as-is basis and does not guarantee accuracy. The resource center is for informational purposes only and should not be considered a personalized recommendation or investment advice.

Have questions? Find answers.

How much does it cost to trade options on Public?

Unlike other options trading platforms, we don’t charge commission fees or per-contract fees. What’s more, at Public, we share 50% of our options trading revenue directly with you, the customer. That means you can earn a rebate every time you place an options trade—making Public the cheapest way to trade options.

What options strategies are available on Public?

We’re launching options trading on Public with fundamental strategies, including long calls, long puts, and covered calls. However, stay tuned for more options trading strategies coming soon, including covered strategies and multi-leg strategies. We plan to launch straddles, strangles, call debit spreads, call credit spreads, put debit spreads, put credit spreads, long call calendar spreads, and long put calendar spreads.

What is options revenue sharing and how does it work?

At Public, we’ve always worked to try to get you the best deal for your trades—and options trading is no different. That’s why, in an industry first, we’re sharing 50% of our payment for order flow revenue directly with you, the customer.

In the options world, every order gets executed on exchange, and payment for order flow is an essential part of the market structure. But now, you can share in the revenue it generates. Every time you place an options trade on Public, you’ll receive 50% of our payment for order flow revenue, minimizing your transaction costs.

Why are options considered riskier than other investments?

Options are considered riskier than many other investments because they are leveraged instruments, meaning that a small investment can lead to large gains or losses. Option prices can fluctuate significantly, and the potential for the total loss of your investment is higher than stocks or bonds.

Have additional questions about Options on Public?

Our US-based customer experience team has FINRA-licensed specialists standing by to help.

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Cta Options Rebates