Trading Rules

Overnight positions are allowed on all accounts and in every phase. You are never forced to flatten before market close unless the position is expiring.

We believe traders should have the freedom to manage positions on their own terms.

When we push you Live, your initial Evaluation fee is fully refunded: $289 (Strix 50K), $209 (Strix 25K), $189 (Express 50K), $149 (Express 25K).

We believe you should not have to pay a penny if you prove you can trade with discipline and consistency.

No Funded activation fee is charged upfront. You progress to Funded by passing Evaluation.

The activation fee is only taken if you receive a payout: $149 (50K accounts) or $99 (25K accounts). You do not pay it out of pocket.

This aligns incentives and keeps your upfront cost low while you focus on structure, discipline, and risk management.

The Strix Plan includes Level 5 options access and allows undefined risk positions, spreads, and multi leg strategies such as verticals, iron condors, butterflies, calendars, diagonals, and more.

The Express Plan is buy only and allows single leg long calls and long puts.

You may only trade options on whitelisted tickers. Any non-whitelisted tickers are automatically restricted from trading. Check the whitelist to view approved tickers. Ticker whitelist requests may be sent to support@strixoptionsfunding.com.

If you do not close expiring positions before 4pm on expiration day, they will be closed automatically at 4pm.

This protects you from unexpected assignment risk and keeps accounts compliant.

Consistency is measured per payout cycle. It prevents one big day from dominating your gains and encourages risk management and structured trading.

Example: $3,000 Evaluation profit target on the Strix Plan with 30% consistency means the max is $900 in one day.

If you make more than $900 in one day, you are not disqualified. You simply need more total gains in that payout cycle so the big day becomes 30% or less.

Example: If your biggest day is $1,200, your total cycle gains must be at least $4,000 because $1,200 divided by $4,000 equals 30%.

This rule rewards steady execution and helps traders build repeatable systems instead of relying on one oversized day.

There is no drawdown lock during Evaluation. In Funded and Live, your trailing drawdown follows new highs until you reach the lock balance, which is your starting capital.

Once locked, the drawdown stops trailing and stays static. On the Strix Plan, the trailing floor updates at the end of each trading day. On the Express Plan, the trailing floor updates in real time throughout the session.

This structure rewards controlled growth, reduces risk over time, and gives disciplined traders more breathing room as they perform.

Once you receive your first payout, the post payout balance rule is active. Your balance at request time must be at least $1 above your previous post payout balance.

Example: If your post payout balance after payout one is $51,000, your balance at your next payout request must be at $51,001 or higher.

This promotes steady progression and encourages consistency, discipline, and structured risk management.