Webull is the most mobile-first of the major brokers, and it has one feature that genuinely stands out for covered call sellers: $0 commissions per contract. While Fidelity, Schwab, and IBKR charge $0.65 per contract, Webull charges nothing. On a 100-contract-per-year writer, that's $65 in saved fees — small but real.
The platform's downside is that the interface is denser and less hand-holding than Fidelity or Schwab. The chain layout is good once you know it; the order ticket has more options than a beginner needs.
This post walks through covered call entry on both Webull mobile (where most users are) and Webull desktop.
Prerequisites
- 100+ shares of the underlying in your Webull account.
- Options trading approval, Level 1 or higher. Webull tiers options as Level 1 (covered calls + CSPs), Level 2 (long options), Level 3 (spreads), Level 4 (naked options). Level 1 is sufficient for covered call writing.
- A decision about what to write. Strike, expiration, earnings/dividend awareness.
The options approval process is fully digital on Webull. Submit via Account → Application → Options Trading. Approval is usually within a day for Level 1.
Step 1: Open the Chain (Mobile)
On the Webull mobile app:
- Tap the search icon and enter the ticker (e.g., "AAPL").
- On the underlying's page, tap "Options" near the top.
- The chain opens with calls and puts. Tap "Calls" if not already selected.
Webull's mobile chain shows: Bid, Ask, Mid, Last, Volume, Open Interest, Delta, IV. The presentation is denser than Fidelity's mobile but more information per screen.
Tap the expiration selector at the top to change DTE. For 30-45 DTE, find the date 4-6 weeks out.
Step 1a: Open the Chain (Desktop)
On Webull's desktop platform:
- Open the underlying's quote page.
- Click "Options" in the navigation.
- The chain opens with full data and customizable columns.
The desktop chain is similar to ATP and StreetSmart Edge — denser, more data, faster. If you're writing more than 2-3 calls a month, use desktop.
Step 2: Find Your Target Strike
Same exercise as on any broker: find the strike where the call delta matches your target.
For example, AAPL at $215, looking for 0.22 delta on a 35 DTE call. Scan down the chain at that expiration for delta = 0.22 — say it's the $230 strike, with bid $1.80 / ask $1.85.
Tap (mobile) or click (desktop) the bid for that strike. Webull may show a buy/sell selector — choose Sell, then Sell to Open.
Step 3: Build the Order
The order ticket pre-fills:
- Action: Sell to Open
- Symbol: The option contract
- Quantity: 1 by default
- Order type: Limit (default) or Market
- TIF: Day (default) or GTC
Keep order type as Limit. Same rule as every broker — never market on options.
Set the limit price between bid and ask. For the $1.80 bid / $1.85 ask example, $1.82 is a reasonable limit. Webull usually fills quickly on liquid names.
Set quantity to match the number of 100-share lots you want to cover. If you have 200 shares of AAPL, you can write 2 contracts.
Step 4: Verify and Submit
Webull's preview screen shows:
- The contract being sold (verify strike + expiration)
- Quantity
- Limit price
- Estimated credit
- Note on margin/buying power impact (should be near zero for a covered call)
Verify, then swipe-to-confirm (mobile) or click "Place Order" (desktop).
Step 5: Monitor
The order routes to the market. On liquid names with a limit between bid and ask, fills are usually fast. If unfilled after 5 minutes:
- Check that the underlying hasn't moved meaningfully.
- Consider adjusting the limit slightly toward the bid (more aggressive).
Once filled, the position appears in "Positions" with the short call alongside your long stock.
What's Different About Webull
Three things worth noting compared to the major-broker workflow:
Commission-free options. No per-contract fee. Schwab/Fidelity/IBKR charge $0.65 per contract; Webull charges nothing. On 100 contracts per year, that's $65 saved. Modest but real.
Mobile-first interface. Webull's mobile is more capable than Fidelity or Schwab mobile. If you primarily trade from your phone, Webull is the most polished experience. The desktop is good but less differentiated.
Less hand-holding. Webull doesn't show you "Strategy: Covered Call" filters or warn you as aggressively about earnings. The platform assumes you know what you're doing. This is fine for experienced traders and a slight risk for beginners.
Webull-Specific Quirks
A few things to know:
Option chain doesn't flag earnings or ex-dividend. Like Schwab and Fidelity, you need to check separately. Webull does show earnings dates on the underlying's quote page if you scroll down to events.
Day trade rules apply to options. If you sell to open and buy to close the same call within the same day, that's a day trade. Pattern day trader rules apply to options just like stocks. For typical covered call workflow (open one day, close days/weeks later) this isn't an issue.
Margin vs cash account behavior. In a margin account, covered calls use the long stock as collateral and don't tie up additional buying power. In a cash account, the workflow is the same but Webull may apply slightly different settlement rules. Most users do covered calls in margin accounts.
The "Strategy" picker on the order ticket. Webull lets you build multi-leg orders. For a simple covered call, you don't need this — just enter a single-leg sell-to-open. The strategy picker is for spreads and more complex orders.
Common Mistakes on Webull
Sell to Open vs. Sell to Close. If you're new to options, the action selector can confuse. To open a new short call: "Sell to Open." To close an existing short call (buy back to flatten): "Buy to Close." Make sure you select the right action.
Wrong expiration tap. Webull's mobile expiration picker scrolls through dates. It's easy to accidentally tap the wrong week, especially on weekly-options stocks where expirations are close together. Verify the expiration on the preview before submitting.
Selling at market because the limit didn't fill. If your limit doesn't fill, the answer is to adjust the limit, not switch to market. Market sells on options can fill significantly below mid, especially on less liquid contracts.
Forgetting earnings. Same as every broker. Always check earnings before writing.
Is Webull Right for You?
Webull works well for:
- Mobile-first traders who want a polished phone experience.
- Cost-sensitive traders writing a high volume of contracts (the $0 fee adds up).
- Traders who don't want or need the educational hand-holding.
Webull is less ideal for:
- Beginners who benefit from Fidelity's clearer warnings and educational content.
- Traders who want comprehensive research tools (Webull's research is decent but not Schwab/Fidelity-tier).
- Traders managing very large portfolios where IBKR's portfolio margin would matter.
For most retail covered call sellers, Webull is a totally reasonable choice. The cost savings are real and the interface, once you learn it, is fast.
Tooling
The same theme: doing this for 1-2 positions in Webull is fine. Doing it for 10-15 every week takes ~30-45 minutes manually. Myron connects to Webull through SnapTrade, screens the entire portfolio with your delta/DTE filters, flags earnings automatically, and routes orders back to Webull. The mechanical workflow compresses to a few minutes regardless of which broker you use.
For broker comparisons, see Selling Covered Calls on Schwab, Selling Covered Calls on Fidelity, and Selling Covered Calls on Interactive Brokers.