SoFi Offers No-Fee Products for Beginners in the Options Market

SoFi Technologies Inc. is adding no-fee options products aimed at retail investors who are beginners in the options market.

SoFi members who are approved for the program will be able to access so-called level 1 products — including covered calls and cash-secured puts — directly from the SoFi app without any fees or commissions, according to a company statement Thursday.

Level 1 options are designed for beginners and involve strategies that carry low risk and low complexity. Customers can also access educational resources explaining how options work and the risks involved. The product is rolling out to SoFi Invest members, ...