Webull has recently faced some controversy for delaying their option quotes. Some have even alleged that Webull options are delayed by up to 15 minutes. Since I have considered switching to Webull for some time now, I did some research on their options trading. And this is what I found.
By default, Webull option quotes are delayed by 15 minutes. To get real-time quotes you will have to get your account approved for options trading and subscribe to the OPRA real-time quotes. This service is complimentary as long as you trade options at least once a month.
In this article, we will cover if Webull options are real-time, why option quotes on Webull are delayed and how to get real-time option quotes on Webull. I’ll also discuss their options settlement process and the exercising and selling of options.
Are Webull options real-time?
When opening a new Webull account and trading options for the first time your quotes will be delayed by about 15 minutes. This delay applies to all accounts that have not been approved for options trading yet and as a result are not subscribed to the OPRA real-time quotes.
You can easily check whether you are seeing real-time or delayed quotes by navigating to any stock/options quote and looking at the icons displayed under the current price quote.
If you see a clock icon with the subtext “Delayed Quotes” you are not receiving real-time prices since your account has not net been subscribed to OPRA quotes. If you do not see the clock symbol your quotes page should look something like the following:
In this case above you can see your current trading level as well as the “National Best Bid and Offer” badge. This means you are now seeing real-time quotes.
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Why Webull options are delayed
Webull has set option quotes to be delayed by default. This decision has likely been made to encourage users to actively apply to their options trading program and to screen new accounts for unusual activity.
Furthermore, there might be some technical limitations as to why Webull made the decision to delay quotes on options trading initially. Whatever the reason may be, it has alienated many users and caused a decrease in trust in their trading platform, especially since the delay of quotes had been communicated clearly by Webull in prior years.
Fortunately, getting real-time option quotes on Webull is fairly easy although it involved going through a manual account approval process. In the next section, I will walk you through this step-by-step!
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How do I get real-time options on Webull?
Getting real-time options quotes on Webull is actually incredibly simple. Essentially you will have to apply for options trading in the first step, go through the entire process, and then wait a day or two to be able to see real-time quotes.
Here’s how to get real-time options quotes on Webull in three steps:
- Apply for options trading: The first step to real-time options quotes on Webull is to complete an options trading application for your account. Go to https://www.webull.com/options, log in to your account and go through the application process.
- Fill out a survey: After the application process is completed, you will need to fill out a short questionnaire about your experience with options trading and your trading and investment goals.
- Subscribe to OPRA quotes: Once your account is approved for options trading you should be automatically subscribed to OPRA real-time quotes within 24 hours. Always make sure to check the quotes page for the real-time icon (see above) before placing any trades.
Once you have completed the above steps you should be seeing live quotes on all stock and options trades. Congratulations!
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Although the initial setup can seem a bit daunting, Webull actually offers an incredible array of features for active options traders.
Unfortunately, by default Webull has disabled real-time quotes on options which makes this broker slightly less user-friendly. On the other hand, enabling the OPRA real-time quotes takes at most 48 hours.
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