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How To Buy Options On Moomoo

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What Is Moomoo?

Headquartered in Silicon Valley, California, Moomoo Financial Inc is an online stock trading platform and broker-dealer. Moomoo is open to traders in the US, Australia, Malaysia, Singapore, and Japan and is consistently ranked as the best day trading app for US traders.

In 2022, Moomoo won the Best Investment Research Tech at the Benzinga Global Fintech Awards and was ranked 2nd among Fortune 100 Fastest Growing Companies.

Moomoo doesn’t charge any trading fee and offers complete access to the largest options exchanges worldwide – including the New York Stock Exchange (NYSE), NASDAQ, and the CBOE. From the Moomoo dashboard, you can start trading thousands of stocks, ETFs, and cryptocurrencies.

For beginners, Moomoo offers comprehensive educational resources, easily accessible from the Courses section on the main website. Some of their most popular courses include Introduction To Options and ETF Strategies. You can also join the Moomoo trading community and learn from the best in a completely commission-free trading platform.

The Moomoo mobile app is available on Android and iOS devices and has an average rating of 4.3/5, with excellent reviews on Trustpilot. Moomoo is registered with the Securities and Exchange Commission (SEC) in the US and insured by the Securities Investor Protection Corporation (SIPC) for up to $500,000 (including $250,000 for cash claims).

Pros & Cons Of Moomoo

Pros

  • 11+ premade options strategies

  • 63+ indicators and 38+ advanced charting tools

  • Customize your strategy with dozens of triggers

  • Commission-free trading

  • Access the largest exchanges (NYSE, NASDAQ, CBOE, and more)

  • Insured by the SIPC and registered with the SEC

  • Mobile app available on Android and iOS devices

Cons

  • Limited support for forex, mutual funds, and crypto

  • High fees when transferring assets to another broker

How To Buy Options On Moomoo

Buying options on Moomoo is very easy, and the process is the same whether you’re on the mobile app or the desktop platform. The Moomoo mobile app has a rating of 4.6/5 on the App Store and 4.0/5 on the Google Play Store.

Here’s how to get started trading options:

  • Log in to your account

  • Open the Detailed Quotes menu

  • On the top menu, select Quotes (or Options)

  • Click on US to filter US-based options

  • Select a stock and choose an Expiry Date

  • Place an order

The process is relatively quick, but here are some key things to consider:

Supported Order Types

Moomoo supports dozens of the most popular order types, including:

  • Limit & Market Order

  • Stop Limit & Stop Order

  • Limit if touched Order

  • Trailing Stop Limit & Trailing Stop Order

Before placing an order, you can browse all the order types. We recommend checking out all the options and setting up customizable alerts so you don’t miss any opportunities. Setting up alerts is very easy – simply scroll down and tap on More -> Alerts.

Minimum Order Size

The minimum order size when buying options in Moomoo is one contract. One contract is equivalent to 100 shares of that stock. This may seem high, but it’s the industry standard. Contract fees range from $0.30-$0.60, with a minimum fee between $0.99-$1.99 per order.

Keep in mind you can divide your orders into separate transactions – as long as you do so within the same trading day – and you won’t get charged an additional fee. Transactions on different trading days are considered different orders, and you will get charged again.

Trading Hours

Moomoo trading hours for options are:

  • Equity, ETF, & ETN Options: 9:30 to 4:00 pm EST

  • Index Options: 9:30 to 4:00 pm EST

  • World Currency Options: 9:30 to 4:00 pm EST

Keep in mind that options trading doesn’t support post- or pre-market trading, but select ETFs and ETC options may trade at most until 16:15 EST.

Advanced Analysis & Investing Tools

For experienced investors, Moomoo offers insightful P/L and options volatility analysis tools so you can track the performance of your trading strategy over time. You can also calculate potential profits, breakeven points, and more:

  • Implied Volatility

  • Historical Volatility

  • Volatility Premiums

  • Mean IV

One of our favorite tools for experienced traders is the Unusual Options Activity Tracker. With this tracker, you’ll gain real-time insights, plus you can set up customizable alerts to find when there is an unusually large volume of options being traded. This will give you an excellent chance to capitalize on fleeting opportunities.

Choose From 11+ Options Trading Strategies

Moomoo offers 11+ of the most successful options trading strategies, ideal for beginners looking to automate their investing. For professional traders, Moomoo offers advanced tools to fully customize your strategy with dozens of triggers. Some of their most popular premade strategies include:

  • Short Condor

  • Short Iron Butterfly

  • Single Option (Long Calling)

  • Cover Call

  • Long Straddle & Long Strangle

Moomoo offers real-time transaction data plus customizable filters through their partnership with the Chicago Board Options Exchange (CBOE), the largest options trading exchange in the US. Additionally, you can access real-time short-volume data from the NASDAQ and the NYSE – without ever leaving the Moomoo dashboard.

Detailed Financial Reports

Imagine you found a stock. You think it has a lot of potential – but you’re not sure. With Moomoo, you can compare and narrow down the list of stocks that match your long-term goals. Compare stocks side-by-side using key indicators like expected growth, revenue, and historical performance, or filter by region, period, business, or product.

Moomoo also offers detailed financial reports on all the stocks listed, so you never go blind in on a trade. You can access the financial reports from the Moomoo dashboard: start by opening any stock and navigating to the details page, and clicking on Financial Analysis.

Moomoo Fees

US-Based Stocks And ETFs

  • Commissions: Free

  • Platform Fees: None

  • Level 2 Market Data Access: Free

US-Based Options

  • Commissions: Free

  • Platform Fees: Free

  • Contract Fees: $0.65 per contract

Moomoo Sign-Up Process

Moomoo is open for traders and investors over the age of 18 with resident status in any of the supported countries: the US, Malaysia, Macao, Taiwan, or Singapore. The signup process is very quick and won’t take more than five minutes; you can get started with just your email address. Here are all the steps:

  • Visit Moommoo’s website

  • On the top right, click Sign Up or Log In

  • Enter a valid email address

  • Select your country of residence

If you sign up using our link, you’ll get 15 free stocks as a welcome bonus, plus an extra share of $TSLA or $GOOG plus a cash coupon. Additionally, you’ll get complimentary access to Level 2 data. Many companies only offer this in the US, but Moomoo offers their sign-up bonus to the US, Canada, Australia, and Singapore!

Moomoo Mobile App Reviews

The Moomoo app is available on Android and iOS devices, with an average score of 4.0/5 and 4.6/5, respectively. Here’s what some of those users have to say about Moomoo:

  • “I have been using Moomoo for over a year now, and I find the app easy to use to trade, and I enjoy all the features on the app, from the news, paper trading, the rewards, and all the informative videos.” – Christopher D. 

  • “Great trading platform for traders. The app is rich in data (including institutional holdings, level 2, etc.) and technical analysis tools features that can be used at all times. Also, the educational courses are great resources for either investors or traders.” – Novi A.

  • “I am giving 4 only because the support answers are kind of slow, but everything else is a high level of service. Honestly can say that so far I am really getting what I expected.” – Mohd B.

  • The website provided no way to get any customer help; the investment platform is an automatic margin account setup.” – Melvin H.

Is Moomoo Legit?

Yes – Moomoo is completely safe to use. Moomoo is an active member of the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Moomoo is also a member of the Securities Investor Protection Corporation (SIPC) and offers insurance for up to $500,000, per investor, per account, including $250,000 for cash claims.

Conclusion

Picking the right trading platform can save you a lot of headaches in the short term and a lot of money over the long term. Moomoo Financial is one of the very few options trading platforms in the US to offer a true commission-free trading experience. With Moomoo, there are no commissions, platform, account management, inactivity, data feeds, or any other kind of fee.

Moomoo offers access to Level 2 data, combining newsfeeds from the largest and most established stock news networks like Bloomberg, Down Jones, and Benzinga. Additionally, the Moomoo mobile app is fully compatible with desktop, iOS, and Android devices, which means you can take your trading wherever you go. For those reasons, we can’t recommend Moomoo enough, especially for traders located in the US, Malaysia, Macao, Taiwan, or Singapore.

FAQs

Does Moomoo Offer Options?

Yes – through their partnership with the CBOE, Moomoo offers traders access to a variety of options, including US equity indexes like:

  • Russell 1000 Index Options

  • Options on Sectors Indices

  • S&P 100 Index Options.

  • RUT Index Options

  • Mini SPX Options

  • SPX Options

Keep in mind these are just some of the assets listed – CBOE is the largest market operator in the US, and they trade thousands of options, publicly listed stocks, and exchange-traded products like ETFs and ETPs.

What Is The Best Time Of Day To Buy Options?

Depending on if you’re buying or selling, the busiest time to trade options is at the beginning and the end of regular trading hours. Offer and demand usually wane in the middle of the trading day.

Keep in mind options are highly volatile investments – even if the price of a stock doesn’t change, the value of the option may. A good rule of thumb is to consider selling strategies – like a covered call option, short straddle, and naked put – when there’s a high implied volatility level. The volatility is simply an estimation of the future volatility of a share or stock based on the current option prices.

When should you consider buying strategies? You should consider buying strategies when there’s low implied volatility. Some of the most popular buying strategies are calls, long straddles, and puts.

How To Buy Options On Moomoo

Placing a buy or sell order on Moomoo is very easy and won’t take more than a couple of minutes. Here are the steps:

  • Login to your Moomoo account

  • Search for a stock price or strike price (or stock from your watchlist)

  • Click Trade and select the type of order

  • Enter an amount or number of shares

Can You Buy And Sell Options Pre-Market With Moomoo?

Yes – Moomoo supports both pre-market and post-market trading. With Moomoo, you can trade during non-market hours as efficiently as you would during regular market hours.


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Features:
  • Commission-free trades of stocks and ETFs
  • Buy and sell 25+ different cryptocurrencies
  • Fractional shares
  • Access alternative investments
  • High-yield treasuries accounts
  • Social community of investors
  • User-friendly interface
Features:
  • Commission-free trades of stocks, ETFs, options, and ADRs
  • Powerful screening and charting tools
  • Free real-time level 2 data
  • User-friendly mobile app
  • AI monitoring
  • AI-powered price forecasts
  • Free investing courses
Features:
  • Commission-free trades of stocks, ETFs, options, and cryptocurrency
  • Buy fractional shares for any amount
  • Extended trading hours
  • Advanced reporting tools
  • Schedule recurring investments
  • IRAs now available
  • 24/7 customer service

Disclosure: Information presented on Vital Dollar and through related email marketing is intended for informational purposes only and is not meant to be taken as financial advice. Please see our Disclosure for further information.