Strategies and Multi-Leg

Depends on your plan. Strix supports buying and writing alike, multi leg structures included. Express is the one exception: it is limited to buying. Plan specifics are on the Rules page.

On the Strix Plan, yes, undefined risk positions included. Express is limited to buying.

Yes on the Strix Plan. Not on Express.

Yes on the Strix Plan. Not on Express.

Yes on the Strix Plan. Not on Express.

Yes on the Strix Plan. Not on Express.

Undefined risk is allowed on the Strix Plan. Not on Express. Drawdown still applies, so naked positions must fit within your floor.

Express allows long calls and long puts. You cannot sell options on Express. No credit spreads. No naked shorts.

Level 5 covers the most permissive options approvals at a typical brokerage: long, short, spreads, undefined risk. The Strix Plan carries that level of access. Express is buy-only.

One contract. There is no minimum trade size beyond standard exchange constraints.

Yes. Weekly options on whitelisted tickers are tradable.

Yes. Closing a losing leg and opening a new strike or expiration is a normal multi-leg roll. Standard rules apply.

Yes, on the Strix Plan. Multi-leg order entry is supported, and legging in manually is allowed. Drawdown still applies.

Yes on the Strix Plan. Every leg must be on a whitelisted ticker, and expiring positions are auto-closed at 3:55:00 PM ET for most tickers, and 4:10:00 PM ET for SPY, QQQ, IWM, DIA.

Pin risk is when an option closes very near the strike at expiration and assignment is uncertain. Expiring positions are auto-closed at 3:55:00 PM ET for most tickers, and 4:10:00 PM ET for SPY, QQQ, IWM, DIA on expiration day, which removes pin risk on simulated accounts.

Yes. Strike selection is your choice within the whitelisted tickers. Drawdown applies regardless of how far out-of-the-money you trade.

Yes. Trading continues during payout review. Drawdown and every other rule still apply, so be mindful that a breach can close the account before the payout clears.