Fidelity (100963) restricts certain opening option transactions

Someone asks:

Why can’t I trade the SPY option? I got this error message:

(100963) Fidelity restricts certain opening option transactions to prevent exercise and assignment risk. Opening orders for options that expire that day are not accepted. Options for this security that do not expire today are eligible to trade.

Most stocks, ETFs, and futures contracts will have a 0 DTE option, commonly known as zero days to expiration. This method of trading can be profitable but also extremely risky.

Fidelity does not allow its customers to open an option contract that expires within the same day.


The workaround to this problem would be to switch to another brokerage that will allow you to trade 0 DTE options or re-adjust your order and pick another expiration date.

If your account balance is well over $1m (million), Fidelity will let you trade same day expiring options. You will need to contact a Fidelity representative and ask for the restriction to be lifted.