WeBull uses standard option pricing increments, not ticks

WeBull prices stock options in cents, not ticks. For most options, the minimum price movement is $0.01 (one cent). This is the standard across nearly all U.S. options brokers, set by the exchanges themselves rather than by individual platforms.

The term "tick" refers to the smallest price movement in a security. For stocks, a tick is typically $0.01. For options, the increment is also usually $0.01, but it can be $0.05 for options trading at very low prices. WeBull follows these exchange rules — it does not set its own pricing grid.

If you are looking at an option bid-ask spread on WeBull and see prices like $2.15 to $2.17, that $0.02 difference represents two one-cent increments. You will not see prices like $2.154 or $2.167 on WeBull or any other broker for standard equity options.

Key Takeaways

  • WeBull prices options in one-cent increments ($0.01) for most contracts, which is the standard set by options exchanges, not by WeBull itself.
  • Very low-priced options may use five-cent increments ($0.05) instead, depending on the contract's price level.
  • The bid-ask spread you see on WeBull reflects what market makers are willing to buy and sell at, not a WeBull-specific pricing system.
  • Penny options (those trading below $1) follow different increment rules than standard options, and WeBull displays them according to exchange rules.

When WeBull shows five-cent increments instead of one-cent

Options priced below $0.10 trade in five-cent increments on most U.S. options exchanges. This means you might see a bid of $0.05 and an ask of $0.10, with no prices in between. WeBull displays these increments because the exchange requires it, not because of a WeBull setting.

These very cheap options are usually far out-of-the-money contracts or those with very little time left before expiration. The wider increments exist to prevent excessive fragmentation in a market where the underlying security's movement might dwarf the option's value.

How bid-ask spreads work on WeBull options

The spread you see between the bid (what buyers will pay) and the ask (what sellers want) is set by market makers, not by WeBull. A spread of $0.01 or $0.02 is common for liquid options on large-cap stocks. Less liquid options — those with fewer trades per day — often have wider spreads of $0.05, $0.10, or more.

WeBull shows you the best bid and ask available at that moment across all connected exchanges. If you place an order to buy or sell, your order enters the queue at that price level. You cannot negotiate a price between the bid and ask; you can only accept what is posted or place an order at a different price and wait.

The spread is not a WeBull fee. It is the cost of the market itself — the difference between what you pay to enter a position and what you would receive if you closed it immediately.

Why option prices move in increments rather than smoothly

Options prices are constrained to specific increments to create an orderly market. Without these rules, market makers could quote prices at $2.1547 and $2.1549, creating confusion and making it harder for traders to know what a fair price actually is.

The one-cent increment for most options is small enough that it does not create artificial barriers to trading, but large enough to prevent the market from fragmenting into thousands of micro-prices. This balance has been the standard for decades and applies across all brokers.

What this means for your orders on WeBull

When you place a buy or sell order for an option on WeBull, you must use a price that aligns with the exchange's increment rules. If you try to enter an order at $2.154, WeBull will reject it or round it to the nearest valid increment. Most brokers, including WeBull, will show you an error or automatically adjust your price.

If you are trying to buy an option and the current ask is $2.17, you can place an order at $2.17 to buy at that price, or you can place a lower bid — say $2.15 — and wait to see if a seller accepts it. You cannot place an order at $2.16 if no market maker is quoting that price, though your order will sit in the queue if you do.

How to read option prices on WeBull's platform

Open any option chain on WeBull and you will see columns for bid, ask, last price, and volume. The bid and ask are always in one-cent increments (or five-cent for very cheap options). The last price is the price at which the most recent trade occurred. Volume tells you how many contracts traded in that option during the current session.

If you see a wide gap between bid and ask — say $1.50 bid and $1.75 ask — that signals low liquidity. Few traders are interested in that contract, so market makers are protecting themselves by quoting a wide spread. Tighter spreads (bid and ask close together) mean the option is actively traded and you will have an easier time entering or exiting a position.

Frequently Asked Questions

Can I place an order at a price between the bid and ask on WeBull?

Yes. You can place an order at any price that follows the increment rules (one-cent for most options). If no one is currently quoting that price, your order will wait in the queue. If a seller comes in at your price, the trade will execute. If not, your order remains open until you cancel it or it expires.

Why is the spread so wide on some options I am looking at?

Wide spreads mean few traders are interested in that contract. This happens with options far out-of-the-money, options on low-volume stocks, or options close to expiration. Market makers widen the spread to compensate for the risk of being stuck holding the contract. You can try placing a limit order closer to the mid-price and waiting, or choose a more liquid option instead.

Does WeBull charge extra for options that trade in five-cent increments?

No. WeBull's commission structure does not change based on the increment size. Five-cent increments are an exchange rule for very cheap options, not a WeBull decision. Your commission per contract is the same regardless of price level.

What happens if I try to place an order at an invalid price on WeBull?

WeBull will either reject the order with an error message or round your price to the nearest valid increment. Most platforms show a warning before you submit. Check the order confirmation screen carefully to see what price you are actually placing.

Are option prices on WeBull different from other brokers?

No. All brokers connect to the same options exchanges and see the same bid-ask quotes. The prices you see on WeBull, Fidelity, TD Ameritrade, or any other broker are identical at any given moment. The only differences are in commissions, platform features, and how quickly the data refreshes on your screen.