Important: Options are complex, high-risk products. You can lose the entire premium paid and, in some strategies, additional amounts due to the collateral committed.
Before placing an order, make sure you understand the strategy, the strike, the expiration date, and your maximum possible loss.
Access
You can trade options in two ways:
From a stock's page: Trade → Trade options.
From your Portfolio, in the Options section.
If you don't have options enabled yet, the app will take you to the enablement flow. Hapi evaluates whether options are appropriate for you based on your experience, objectives, financial situation, and risk tolerance. Enablement is approved by level, depends on that evaluation, and may be denied. Before your options account is approved, you must receive and review the "Characteristics and Risks of Standardized Options" (ODD).
Order types and validity
Only limit and stop-limit orders are allowed (no market orders).
Orders can have GFD (Good for Day) or GTC (Good Till Cancelled, max 90 days) validity. Check the validity before confirming your order.
Support
The support team does not provide investment advice or recommendations. Hapi Securities is self-directed.
Important — Risks of trading options
Options are not suitable for all investors and involve a high degree of risk. Before trading options you must read the disclosure document "Characteristics and Risks of Standardized Options" (Options Disclosure Document / ODD), available at https://hapi-public-documents.s3.us-east-1.amazonaws.com/occ-options-disclosure-document.pdf. Supporting documentation for any claim is available on request.
Options involve market risk, high volatility, illiquidity, time decay, and expiration risk. If you buy an option, you can lose the entire premium you paid —within a relatively short period— if the option is worthless at expiration. If you sell (write) an option, losses can be substantial and, for uncovered options, theoretically unlimited. Assignment can occur at any time before expiration, without prior notice.
This material is for informational purposes only and is not a recommendation, advice, or a solicitation to buy, sell, or hold any option, security, or strategy. Hapi Securities is self-directed and does not make investment recommendations. Trading options requires prior approval of your account for the applicable trading level.
Options, stocks, and ETFs are offered by Hapi Securities LLC, member of FINRA and SIPC (CRD #311868); custody and clearing via Apex Clearing Corporation. SIPC protects certain securities in the event of the broker-dealer's insolvency; it does not protect against market losses and does not cover crypto. More information at https://www.sipc.org.